Mohammed Azmin says the firm’s investment was discussed during his trade and investment mission to the US recently
INSULET Corp — a US-based medical devices company — is proposing US$200 million (RM878.6 million) investment in Malaysia, having selected Gelang Patah, Johor, for one of its manufacturing locations to produce its Omnipod® Insulin Management System.
International Trade and Industry Minister Datuk Seri Mohammed Azmin Ali said that the firm’s investment was discussed during his trade and investment mission to the US recently.
The mission included a meeting with Insulet’s representatives in Washington DC.
“Insulet’s proposed investment project of approximately US$200 million in Malaysia is very much aligned with our 12th Malaysia Plan, which champions the medical devices industry as one of the key industries that will help propel Malaysia into the high technology trajectory, and the National Investment Aspirations that focuses on attracting quality foreign investments into Malaysia with intensification on research and development and new technologies,” Mohammed Azmin said in a statement.
The company held the ground breaking of its new site that will expand upon Insulet’s existing manufacturing capacity in the US and China.
The ground breaking event was also attended by Johor Chief Minister Datuk Onn Hafiz Ghazi, Chief Minister Johor State Investment, Trade and Consumer Affairs Lee Ting Han; Malaysian Investment Development Authority (Mida) CEO Datuk Arham Abdul Rahman; Insulet executive VP and COO Charles Alpuche and representatives from other stakeholders.
“The government recognises that companies place a high value on talent. Thus, we anticipate positive spillovers from Insulet’s endeavour, including the creation of high-income jobs for our Malaysian talents in high-tech fields, strategic local vendor development programmes particularly within our vibrant engineering support industry segment, university collaborations, as well as training and upskilling programmes for the local workforce,” Mohammed Azmin added.
“At Insulet, we are driven by our mission to improve the lives of people with diabetes globally. That is why our top priority is to ensure our customers have continued access to our Omnipod products. Johor Baru offers a strategic location in the Asean region with excellent accessibility to ports and a qualified workforce to staff our next manufacturing facility,” Alpuche said in the same statement.
Arham, meanwhile, said Insulet’s entry into Malaysia is a testament to the country’s attractiveness in bringing premium and high-tech medical device product manufacturers into the country.
“We welcome Insulet’s global expansion and their addition to Malaysia’s ever-growing medical devices industry ecosystem. We look forward to having Insulet open up new business opportunities for technology transfer and integrating of our local vendors into its global supply chain network,” Arham said.
Presently, Malaysia is home to over 200 manufacturers, with more than 30 medical devices and multi-national companies producing high-value-added medical devices.
The second and third tiers of medical device manufacturers for parts and components of medical devices have increased opportunities for local vendors to be integrated into the global supply chain of this industry.
For 2021 alone, Mida has approved 38 manufacturing projects worth RM7.68 billion, which are expected to create 12,498 employment opportunities for the country. The industry shows great promise in generating high-income jobs, increasing export value and reinforcing the domestic supply chain ecosystem. — by TMR / pic by BERNAMA
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