ID :
188449
Tue, 06/14/2011 - 12:02
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https://oananews.org//node/188449
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POSITIVE PROSPECTS FOR MANUFACTURING SECTOR IN 2011
KUALA LUMPUR, June 14 (Bernama) -- The manufacturing sector is expected to continue to expand this year as a result of higher investment and increased consumption, with positive overall prospects this year.
The overall performance of the manufacturing sector improved significantly in 2010 compared with 2009, with growth led by an increase in external demand supported by the robust performance of domestic-oriented industries.
"The growth momentum is expected to continue in 2011 in tandem with better economic conditions worldwide," said the Ministry of International Trade and Industries (MITI) Tuesday in its 2011 Malaysia International Trade and Industry Report.
It said the export-oriented industries were expected to grow with increasing regional trading activities, while higher domestic consumption is expected to benefit the domestic-oriented industries.
Demand will be also raised with the growth in the economies of major export destinations for Malaysian products, especially Asean member countries, China, USA and the Europe, it said.
"Palm oil and rubber industries will continue to perform well following recent commodity price increases, with higher demand from both external and domestic markets to lead increase in exports in 2011," it said.
Despite negative campaigns against the palm oil industry, MITI said the demand from China, India and Pakistan will spur growth in the coming years.
The electrical and electronic industry will also continue to lead growth in 2011 as the demand from traditional markets increases following recovery of the global economy as global spending on electronic gadgets will continue to expand.
Demand for mechanical and electrical products is also expected to grow due to maintenance and replacement of equipments in the manufacturing sector.
With improved economic conditions backed by an improved financial situation, the automotive industry is expected to continue with its positive performance, the report said.
"This sector is also expected to see growth in sales of hybrid cars in tandem with increasing awareness of green technology and alternative energy."
On the construction side, the iron and steel industry is projected to perform well in 2011 in view of increasing global demand with the anticipated growth in construction activities as well as the implementation of National Key Economic Areas and 10th Malaysia Plan projects.
Prospects for the pharmaceutical industry remain positive as well following the government's initiative in promoting health tourism and increasing awareness of the benefits of a healthy lifestyle, spurring growth of the pharmaceutical industry, it said.
The chemicals and chemical products sector is also projected to grow this year with the overall recovery in the manufacturing activity last year, with basic chemicals widely consumed in the manufacturing process.
--BERNAMA
The overall performance of the manufacturing sector improved significantly in 2010 compared with 2009, with growth led by an increase in external demand supported by the robust performance of domestic-oriented industries.
"The growth momentum is expected to continue in 2011 in tandem with better economic conditions worldwide," said the Ministry of International Trade and Industries (MITI) Tuesday in its 2011 Malaysia International Trade and Industry Report.
It said the export-oriented industries were expected to grow with increasing regional trading activities, while higher domestic consumption is expected to benefit the domestic-oriented industries.
Demand will be also raised with the growth in the economies of major export destinations for Malaysian products, especially Asean member countries, China, USA and the Europe, it said.
"Palm oil and rubber industries will continue to perform well following recent commodity price increases, with higher demand from both external and domestic markets to lead increase in exports in 2011," it said.
Despite negative campaigns against the palm oil industry, MITI said the demand from China, India and Pakistan will spur growth in the coming years.
The electrical and electronic industry will also continue to lead growth in 2011 as the demand from traditional markets increases following recovery of the global economy as global spending on electronic gadgets will continue to expand.
Demand for mechanical and electrical products is also expected to grow due to maintenance and replacement of equipments in the manufacturing sector.
With improved economic conditions backed by an improved financial situation, the automotive industry is expected to continue with its positive performance, the report said.
"This sector is also expected to see growth in sales of hybrid cars in tandem with increasing awareness of green technology and alternative energy."
On the construction side, the iron and steel industry is projected to perform well in 2011 in view of increasing global demand with the anticipated growth in construction activities as well as the implementation of National Key Economic Areas and 10th Malaysia Plan projects.
Prospects for the pharmaceutical industry remain positive as well following the government's initiative in promoting health tourism and increasing awareness of the benefits of a healthy lifestyle, spurring growth of the pharmaceutical industry, it said.
The chemicals and chemical products sector is also projected to grow this year with the overall recovery in the manufacturing activity last year, with basic chemicals widely consumed in the manufacturing process.
--BERNAMA
