Samsung Electronics has earmarked Malaysia to be its largest operations base outside South Korea by 2015.
Malaysia newspaper Sin Chew Jit Poh reported Thursday that the country's Minister of International Trade and Industry Datuk Seri Mustapa Mohamed was told of Samsung's plans by Park Sang Jin, president and chairman of Samsung SDI.
The country's good industrial ecosystem, which include political stability, skilled local labor, and an economy focusing on high value-added activities, makes it a desirable choice for the South Korean electronics giant, the minister revealed.
Mustapa added Samsung's operations in Malaysia, via Samsung SDI Energy, will also attract other Korean companies to invest in Malaysia. "Local universities and institutions of higher learning could also gain from its presence as Samsung had indicated its willingness to collaborate with them," he said.
Samsung, which first opened an office in Kuala Lumpur providing sales and engineering support in 1979, has to date invested 5 billion ringgit (US$1.6 billion) via 15 affiliate entities, including Samsung SDI, the report noted.