Malaysia targeting RM50bil in medical tech exports by 2030, says Zahid

KUALA LUMPUR: Malaysia aims to transition from a manufacturing base for medical devices to becoming a country that develops technology, owns intellectual property, and builds world-class medical technology companies. Deputy Prime Minister Ahmad Zahid Hamidi revealed the government's goal to boost medical device exports to over RM50 billion by 2030, up from RM34.54 billion in the previous year.

The target is part of three primary aspirations to elevate the medical technology sector into a competitive, high-value industry on the global stage. Zahid emphasized that the foundations for manufacturing, market access, and global confidence are in place, but the next stage of export growth should be driven by high-value products.

The government aims for at least 10 Malaysian medical technology companies to compete regionally and globally. While welcoming leading global companies, local capabilities must be developed to prevent reliance on foreign investment. Zahid highlighted the importance of intellectual property, technology development, and high-skilled roles in Malaysia.

He stressed that 50% of jobs created by investments in the medical technology sector should consist of administrative, technical, and supervisory roles by 2030. The medical technology industry should collaborate with universities and TVET institutions to ensure a skilled workforce and develop relevant programs, identify future skills, and create more apprenticeship pathways.