PMI sees Malaysia as strategic hub

KUALA LUMPUR: Philip Morris International (PMI) views Malaysia as a crucial hub for advanced manufacturing, talent, and supply chain resilience, according to Vassilis Gkatzelis, president of PMI East and Southeast Asia and Global Travel Retail. Gkatzelis highlighted Malaysia's significance in the company's global operations, with the nation supporting its supply chain and exports to over 80 markets.

He estimated that PMI devices exported from Malaysia would reach RM6 billion between 2023 and 2026. Gkatzelis emphasized the importance of Malaysia's strategic location, highlighting the depth of its talent pool and advanced manufacturing capabilities. The company's operations have created an ecosystem involving local suppliers, providing about 3,400 jobs and collaborating with 400 Malaysian companies over the past four years.

Gkatzelis praised Malaysia as one of the most advanced economies with strong growth and potential, noting the presence of Malaysian professionals in leadership positions within PMI globally. He also pointed to a predictable and innovation-friendly policy environment as an important factor for long-term investment. Gkatzelis described PMI's transformation as more than just investment in new businesses, emphasizing the need for changes in talent, capabilities, and long-term planning.

The company's culture revolves around collaboration, care, and being game changers, reflecting its commitment to Malaysia's manufacturing, supplier, and talent ecosystem. Gkatzelis expressed confidence in Malaysia's potential to attract high-value investments and sustainable growth, particularly as the country seeks to strengthen its position as an innovation hub.

He also highlighted the importance of regulation and cross-border cooperation in tackling illicit trade, noting that PMI collaborates with various government agencies, including the Finance Ministry, Investment, Trade and Industry Ministry, and Customs Department, to combat this issue.