KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) has re-elected Tan Sri Soh Thian Lai as president in the FMM's new council line-up for the 2024-2025 term.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz who officiated at the FMM Council Swearing-In Ceremony and Media Night today said Soh and all the FMM Council members were elected at the 55th annual general meeting (AGM) which happened last December.
"Looking at the 55 years of FMM, since its inception in 1968, with the strong support and commitment of FMM, it really has been instrumental, especially in developing the manufacturing sector.
"The manufacturing sector is an important sector for the country and if you look at exports, 80 per cent of our exports is from the manufacturing sector.
"So, your active representation in various government committees, as well as panels, are really important to me and to the Ministry, and of course to the government," Tengku Zafrul said.
He said the manufacturing sector is also among the important sectors that contributed to gross domestic product (GDP) as the sector contributed to 24 per cent of the 3.7 per cent GDP growth announced recently.
"The sector also contributes quite a meaningful size in terms of workforce in Malaysia. About 17 per cent of our workforce is from the manufacturing sector.
"In terms of valuation, today, the value of the manufacturing sector is close to RM370 billion. On the export front, in 2010, export of the manufacturing sector was around RM490 billion. Today, it is close to RM1.5 trillion. So, it has gone up more than three times in the period of 10 years," he added. - Bernama