KUALA LUMPUR, Feb 8 — The global COVID-19 pandemic and trade war have brought into sharp focus the opportunities for companies involved in critical supply chains such as minerals, components, manufactured goods and guaranteed delivery, the Malaysia Global Business Forum (MGBF) said.
Founding chairman Nordin Abdullah said many companies and individuals have struggled to meet demand.
“A close eye on emerging technology trends and the materials used in these technologies is required if Malaysia is going to be able to attract more of these companies onshore,” he said in a statement today.
He said the exit from China by companies caught in the crossfire of the global trade war is another untapped opportunity.
Many companies are now rapidly weaning themselves off the cheap labour environment and promise of access to a massive consumer base and looking for safer locations with comparable cost-benefit matrixes.
“With high-growth economies and over 600 million consumers, ASEAN is an attractive proposition. In that context, Malaysia remains on the radar as a significant economy with a history of delivering on promises to investors,” he said.
“Investment plans are easily put on hold during times of crisis except when the investment is filling a critical gap created by rapid change, and if that gap represents a loss of revenue or market share to a competitor.
“Greater focus is required to find such opportunities,” he added.