The fashion, textile, and lifestyle sector in Malaysia holds a pivotal role in contributing significantly to the country’s economy, according to Datuk Bahria Mohd Tamil, the deputy secretary-general of the International Trade and Industry Ministry.
This dynamic industry not only generates substantial revenue but also offers numerous employment opportunities.
Bahria emphasised the government’s unwavering commitment to strengthening the growth of this sector, with a particular focus on implementing the New Industrial Master Plan 2023 (NIMP2023).
In the second quarter of 2023, Malaysia successfully attracted investments totaling RM132.6 billion, a clear indication of its appeal to investors.
These investments have resulted in the creation of over 51,000 job opportunities, underscoring their positive economic impact.
Breaking down the investment figures, domestic direct investment (DDI) accounted for an impressive 52.2 percent of the total, while foreign direct investment (FDI) constituted a substantial 47.8 percent.
Bahria also highlighted several proactive policies aimed at further bolstering the industry.
These policies include tax incentives designed to encourage investment, comprehensive skill development programs, initiatives to promote Malaysian fashion, textiles, and lifestyle products on the global stage, as well as substantial support for fostering innovation and collaboration within the sector.
