AME Elite Consortium Berhad’s industrial parks in Johor can attract FDI into the count as global players continue to see the zone as a viable location for their expansion plan.
The most recent FDI is from Nasdaq-listed medical device giant Insulet Corporation, whose latest manufacturing facility will be built in AME Elite’s newest industrial park i-TechValley in SiLC, Johor Bahru.
The new fit-for-purpose facility with built-up area of approximately 400,000 sq ft is Insulet’s first presence in South East Asia, complementing its existing manufacturing capacity in the US and China. The manufacturing facility is expected to be operational in mid-2024.
AME Group Managing Director Mr. Kelvin Lee Chai said that AME’s first two integrated industrial parks, i-Park in Indahpura and Senai Airport City, had proven to be FDI magnets for global corporations, and expressed confidence that its upcoming industrial park of i-TechValley would follow suit.
Kelvin Lee Chai, Group Managing Director of AME Elite Consortium Berhad commenting on the announcement said Insulet Corporation to i-TechValley is a big win for AME and for Malaysia, as it is the medical device giant’s first manufacturing facility in South East Asia.
He added, more than 70% of the occupants in i-Parks in Indahpura and Senai Airport City are multinational corporations, and is confident of similar uptake for i-TechValley, even more so as global players diversify their presence in South East Asia to strengthen their supply chain resilience.
A recent report by Standard Chartered noted that FDI in Malaysia had reached record highs in 2021, adding that ASEAN had emerged as an excellent alternative for manufacturing hubs intending to diversify their supply chains. Amongst other factors, Asean’s 660 million-strong population enjoys a more favourable demographic profile than mature markets of China or the US, offering opportunity for wide-ranging demand and workforce.