According to foreign media on September 9, Malaysia’s Ministry of International Trade and Industry (MITI) said on Wednesday that the country’s rubber glove exports from January to July increased by 50.1% to 15.06 billion MYR from 10.03 billion MYR in the same period last year.
Malaysia’s Deputy Minister of International Trade and Industry, Lim Ban Hong, said that the growth in rubber glove exports was driven by increased demand and the government’s efforts to help the rubber glove industry. By 2020, the global demand for rubber gloves is estimated to reach 330 billion, and the output of the Malaysian export market is estimated to reach 220 billion, accounting for 67% of the global demand market.
In an interview on Wednesday, he said that this is a good opportunity for our country to strengthen its brand and confidence in Malaysian products internationally. This is an answer to the country’s senator’s question on the government’s efforts and actions to take advantage of the opportunities provided by the booming rubber glove manufacturing and production industry since the outbreak of the new crown epidemic.
Lim Ban Hong stated that the government encourages participants in the rubber glove industry to reinvest or make additional investments to take advantage of this opportunity. According to the National Economic Recovery Plan (PENJANA), the Malay government has launched the Special Reinvestment Subsidy Incentive Program (Special RA) to encourage reinvestment and additional investment.
In addition, he said that the Malay government has also encouraged the introduction of automation and high-tech processes in the manufacturing industry, including the rubber glove industry, by providing “automated capital subsidy” incentives for labor-intensive manufacturing. Considering that the rubber glove industry has grown exponentially since the outbreak of the new crown epidemic, and it is necessary to build factories at a faster rate, the government has put forward an initiative through PENJANA, where manufacturers can obtain manufacturer licenses within 48 hours.