Kuala lumpur: Malaysia has called on ASEAN member states to strengthen regional integration and compete collectively with global manufacturing regions, instead of competing among themselves. Malaysian Investment Development Authority (MIDA) Singapore director Vinothan Tulisinathzan highlighted the potential for ASEAN to become a leader in global manufacturing by leveraging the dynamic shifts occurring in the global supply chain.

According to BERNAMA News Agency, Vinothan emphasized the importance of ASEAN countries capitalizing on each other's competitive strengths. He pointed out that companies are now seeking resilience, diversification, and multiple supply sources, which naturally positions ASEAN as a favorable choice. These remarks were made during a fireside chat at the breakout session, 'Building Industrial Competitiveness: Powering Malaysia's Next Phase of Growth', held during the 10th ASEAN Conference organized by the Singapore Business Federation (SBF).

The two-day event, themed 'ASEAN's Future in a Fractured World', provided a platform for discussing strategies to enhance regional cooperation. Vinothan noted Malaysia's pivotal role in becoming a key orchestration hub within the regional value chain. To foster intra-ASEAN trade, he urged member states to focus on reducing operational barriers for businesses across borders, emphasizing that the next phase of ASEAN integration should concentrate on minimizing friction rather than just reducing tariffs.

Furthermore, Vinothan highlighted Malaysia's shift in investment strategy towards value creation, aiming to attract high-quality investments. Malaysia offers an integrated industrial ecosystem that supports innovation, manufacturing, and scaling operations, serving both regional and global markets. The country's established manufacturing network and integrated ecosystem, which encompasses advanced manufacturing, digital infrastructure, sustainability, and talent, are considered significant competitive advantages for attracting investments.