ASEAN SHOULD SEE ITSELF AS ONE SUPPLY CHAIN -- LIEW
KUALA LUMPUR, Nov 6 (Bernama) -- ASEAN members should view themselves as part of a single, interconnected supply chain in the global semiconductor and manufacturing industries, Deputy Investment, Trade and Industry Minister Liew Chin Tong said.
Liew, in his capacity as ASEAN Economic Ministers’ Meeting Deputy Chair, said companies worldwide are now prioritising resilience over cost, with many adopting dual-sourcing strategies instead of relying solely on the cheapest production sites.
“Not many regions in the world have such a sophisticated and complex supply chain in semiconductor, chip-making, and critical minerals.
“We should see each other as one integrated supply chain rather than as competitors,” he told reporters at the 9th ASEAN Media Forum here on Thursday.
Liew said few regions possess ASEAN’s level of industrial sophistication, noting that Singapore, Malaysia and Vietnam lead in semiconductor manufacturing, Thailand in automotive production, and Indonesia in critical minerals.
He said ASEAN should recognise its collective strength and operate as an integrated regional supply chain that complements rather than competes internally.
Liew added that ASEAN must have greater confidence in its capabilities to realise its full economic potential.
“ASEAN needs to believe in itself more, take itself more seriously, and recognise that it has huge potential. We must work hard to unlock that potential,” he said.
-- BERNAMA
