Malaysia targets RM50 billion in medical device exports by 2030

Malaysia is pursuing several strategic economic goals focused on high-value technology and innovation. Deputy Prime Minister Ahmad Zahid Hamidi announced a target to increase medical device exports to over RM50 billion by 2030, up from RM34.5 billion recorded previously. The initiative aims to transition the nation from a manufacturing base to a leader in medical technology (MedTech) by developing local intellectual property and fostering at least 10 Malaysian companies capable of competing globally.

Prime Minister Anwar Ibrahim has also emphasized the need for Malaysia to move beyond being a mere consumer of technology. He called for stronger synergy between universities, the private sector, and government-linked investment companies to ensure research and development (R&D) is effectively commercialized. The Prime Minister urged for the reduction of bureaucracy to accelerate the adoption of emerging technologies like artificial intelligence and quantum computing.

In the digital sector, MDEC CEO Anuar Fariz Fadzil noted that the local creative and digital content industry must shift focus from low-cost competition to high-quality, sustainable intellectual property to remain competitive against regional neighbors.

Separately, Bank Negara Malaysia reported that official foreign exchange reserves stood at US$132.07 million as of the end of July 2026.