Kuala Lumpur (VNA) – At the Malaysia Economic Forum 2025, experts and industry leaders emphasised the country’s substantial potential to develop artificial intelligence (AI), digital transformation, and green technologies amid rising geopolitical tensions, trade wars, and impacts of the US' new tariff policy.
Datuk Seri Wong Siew Hai, President of the Malaysia Semiconductor Industry Association, highlighted Malaysia’s strong position in the global semiconductor industry, ranking 16th in assembly and 13th in testing. He said the global semiconductor market, valued at 600 billion USD in 2023, is projected to reach 1 trillion USD by 2030, driven by AI and digitalisation.
Alongside challenges, there are significant opportunities in AI, digital transformation, and green technologies, requiring the country to balance both risk and potential thoughtfully, he added.
Sandy Woo, Country Director of eCloudvalley Technology Malaysia and a councillor of the National Tech Association of Malaysia, described the semiconductor, electronics, and electrical industry as critical to the Malaysian economy as it contributes 6% to the gross domestic product and generate about 630,000 jobs.
She noted digitalisation is not just a trend, it is transforming public sector services and driving economic reform. She also advocated continued innovation, application of technologies like e-invoicing, as well as measures for adapting to the US reciprocal tariff policy to build investor confidence and position Malaysia as a leader in ASEAN.
FCA Capital Sdn Bhd chairman Dr Mazlan Ahmad said looking at the current state of globalisation, Malaysia must focus on leveraging and capitalising on its strengths, areas where the country already excel and have the potential to do even better.
Despite numerous crises globally, Malaysia has the potential to become a haven for investment, business dealings, and education, as well as a destination for training and more, he said, adding that by fully exploring and utilising these abundant resources, Malaysians will be able to secure a prosperous future – one where financial hardship and reliance on bank loans are minimised.
The forum on June 24-25 gathered politicians, business leaders, experts, and scholars to discuss the national economic transformation strategy towards comprehensive and sustainable growth; the promotion of industrialisation, including digital transformation, renewable energy development, and high-tech application; the enhancement of ties between the public and private sectors; and the facilitation of domestic enterprises to reduce dependence on FDI and enhance the country's global competitiveness./.
