KUALA LUMPUR, Dec 5 (Bernama) — The Malaysian Investment Development Authority (MIDA) and the Association of Malaysian Medical Industries (AMMI) today released the AMMI Medical Device Industry Status and Outlook Report 2019/2020. The Report highlighted that AMMI members collectively sourced RM4.2 billion of raw materials and services from local suppliers and small and medium-sized enterprises (SMEs) within the country. This reflects AMMI’s commitment in supporting government initiatives to develop vendor development programs and local SMEs.
At a time where the global economic outlook is unfavourable amidst new trade challenges, the future outlook for Malaysia’s medical device industry remains very positive, with the majority of AMMI respondents bullish about their business prospects in 2020 and the years to come. AMMI survey respondents plan to invest a collective amount of RM765 million in plant expansion, new product development and R&D in 2020.