Insulet to make huge investment in Malaysia– Azmin

 

Global leader in tubeless insulin pump technology Insulet Corporation has planned to establish an insulin management facility in Johor on June 2, 2022, with a “significant amount” of investment, says Minister of International Trade and Industry Mohamed Azmin Ali.

Azmin said the initial phase of the investment is expected to create about 500 quality high-skilled jobs for the local talents.

“The success of this investment is not just on capital investment, but also to help build the supply chain ecosystem for our small and medium enterprises (SMEs),” he told Bernama on the sidelines of the Hari Raya Aidilfitri celebration with Prime Minister Ismail Sabri Yaakob here Wednesday evening.

Azmin is currently on a 10-day Trade and Investment Mission in the US since May 8, while Ismail Sabri has arrived here Tuesday for a four-day working visit, including meeting US President Joe Biden and Asean leaders.

According to Azmin, Insulet has a long-term investment plan in Malaysia as it sees Malaysia as a medical devices manufacturing hub for it to cater to the demand from not only Malaysia but also from the region and other export markets.

Annoucement in June

He said a “big announcement” would be made on June 2 in conjunction with the launch of the new facility in Johor.

Insulet is an innovative medical device company producing Omnipod, an automated device used for diabetic patients to administer insulin.

Earlier Wednesday, Azmin held a meeting with Insulet chief operating officer Charles Alpuche.

Azmin said via Twitter that Insulet’s decision to choose Malaysia was founded upon Malaysia’s excellent talent pipeline and accessibility to ports to support its supply chain.

“Insulet has expressed its keen interest in developing the local ecosystem and further advancing knowledge transfer programmes through collaborative partnerships with universities and other industry stakeholders to upskill and reskill local talent.

“I expressed to Insulet that Malaysia is highly appreciative of this opportunity and looks forward to growing together with them,” he tweeted.

According to his tweets, Insulet’s investment would indeed open up vast opportunities for Malaysia, particularly in driving demand for the local parts and components of medical device manufacturers.

Outsource to local vendors

“As a matter of fact, Alpuche informed me that Omnipod consists of 72 components, and they will outsource some of the components to local vendors in Malaysia.

“This will indeed open doors to bountiful possibilities for our local vendors to be integrated into the global supply chain of this industry,” according to his tweets.

In a separate tweet, Azmin shared that he had held a separate meeting with Boston Scientific Corporation, a leader in the medical devices sector earlier Wednesday.

“Since making its presence in Malaysia in 2015, Boston Scientific has continued to expand, powering the local medical industry through strategic collaborations of local vendor development efforts and capacity building programmes.

“With health gaining increasing prominence in the post-pandemic world, its presence in Malaysia will continue to positively impact the development of our medical devices industry, adding further value to the ecosystem,” he tweeted.

- Bernama