A recent statement from the Malaysia Automotive, Robotics and IoT Institute (MARii) has underscored the imperative for Malaysia to prioritise the augmentation of auto parts exports to fortify its position as the ASEAN automotive hub. MARii CEO Azrul Reza Aziz has articulated that the crux of achieving this objective lies in the amplification of auto parts exports, which would engender economic scale and competitive pricing.
Aziz has accentuated the significance of Malaysian automotive entities escalating their exports, which would subsequently yield diminished production costs and component prices. This, in turn, would heighten Malaysia’s competitiveness in the global marketplace, thereby counterbalancing the challenge posed by neighbouring nations that boast lower-priced auto parts owing to amplified sales volumes.
Concurrently, industry mavens encompassing car manufacturers, auto industry researchers, and economists, are in unanimity that these endeavours are pivotal for solidifying Malaysia’s eminence as the paramount automotive hub in ASEAN. By leveraging the region’s extensive consumer base of nearly 700 million, Malaysia has the potential to position itself at the vanguard of the automotive industry in the ASEAN region.
Aziz has also underscored the indispensability of original equipment manufacturers (OEMs) not only exporting cars, but also parts and components. This integrated strategy is crucial for augmenting the overall competitiveness of the Malaysian automotive industry.
The emphasis on augmenting auto part exports is emblematic of Malaysia’s ambition to emerge as a preeminent player in the ASEAN automotive arena, offering formidable competition to regional adversaries. This strategic manoeuvre is aimed at bolstering Malaysia’s standing in the global automotive market.
In summation, the impetus to boost auto part exports is a momentous stride in Malaysia’s aspiration to emerge as the ASEAN automotive hub. By cultivating a competitive edge through the export of auto parts and components, Malaysia is primed to cement its position in the ASEAN region and beyond.