AI Summary
The Malaysian government is exploring stricter localization requirements for foreign investors to create a resilient ecosystem benefiting local companies, particularly SMEs. Deputy Minister of Investment, Trade and Industry, Liew Chin Tong, stated this aims to ensure SMEs benefit from new domestic and foreign investments, fostering Malaysian companies into multinational corporations. This involves a shift in mindset, moving away from the perception of SMEs solely supporting foreign MNCs and towards empowering Malaysian companies to become technology-driven MNCs on the global stage. This was in response to inquiries about the impact of potential US reciprocal tariffs and the government's mitigation plans, which include market diversification through MATRADE.
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