The Importance of Manufacturing Industry in Malaysia

Topics: Manufacturing, Planned economy, Market economy Pages: 3 (909 words) Published: April 17, 2013
1. Discuss the importance of manufacturing industry in Malaysia.

Manufacturing is the use of machines, tools and labor to produce goods for sale. The term may refer to a range of human activity from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale. Such finished goods may be used for manufacturing other, more complex products, such as household appliances, automobiles or sold town whole sellers, who in turn sell them to retailers, who then sell them to end users – the “consumers”.

Manufacturing takes turn under all types of economic systems. In a free market economy, manufacturing is usually directed toward the mass production of products for sale to consumers at a profit. In a collectivist economy, manufacturing is more frequently directed by the state to supply a centrally planned economy. In mixed market economies, manufacturing occurs under some degree of government regulation.

Modern manufacturing includes all intermediate processes required for the production and integration of a product’s components. Some industries such as semiconductor and steel manufacturer use the term fabrication instead.

The manufacturing sector is closely connected with engineering and industrial design. Examples of major manufacturers in Malaysia include Proton, PETRONAS and Palm Oil industry.

Recently, manufacturing industries in Malaysia grow very rapidly if compared to previous decades. With the rapidly grow of manufacturing industries, the government has to play its role in order to ensure every aspects of current trading policies and regulatory to be obeyed. Other than that, this will ensure that the current trading and manufacturing environment in Malaysia to be peaceful yet globally competitive.

To start with, manufacturing sector in Malaysia contributes almost 80% of overall country’s export and besides, Malaysia also known as the 17 largest...
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