Malaysia aims to become Asia's semiconductor hub

Malaysia is striving to engage in the semiconductor market with an aim to become the semiconductor hub in Asia.

Wednesday, May 29, 2024 16:41

Kuala Lumpur (VNA) – Malaysia is striving to engage in the semiconductor market with an aim to become the semiconductor hub in Asia.

Semiconductor exports currently account for 40% of Malaysia's total exports, making the country the sixth largest exporter in this sector, Investment,
Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz was quoted by local media as saying at the launch of Semicon Southeast
Asia 2024.

Malaysia aims to leverage its 50-year presence in this industry and advance to the next level of value by capitalising on advancements in artificial intelligence (AI) technology and everyday applications, he said.

The minister said this strategic arrangement has provided the country’s electrical and electronics (E&E) industry, especially the semiconductor sector, with access to the global market.

Malaysia is increasingly seen as an important Southeast Asian nation in helping to secure the global supply chain for the industry and ensuring the continued growth of the strategic importance of the semiconductor sector, he added.

The increasing global dependency on semiconductors has stimulated research and manufacturing in Southeast Asia, he noted, holding that this also makes the components more crucial in modern electronics and advanced research that can address or exacerbate global issues.

Meanwhile, SEMI CEO Ajit Manocha said Southeast Asia is well-positioned to help accelerate the semiconductor industry’s unprecedented growth driven in part by the game-changing innovations such as GenAl.

Events like Semicon Southeast Asia play a crucial role in fostering dialogue, partnership, and innovation, he said, adding that the growth in participation this year reflects the growing relevance of this event and the collective commitment to advancing the semiconductor ecosystem to Southeast Asia and beyond.

Malaysian Investment Development Authority (MIDA) Director Sikh Shamsul Abdul Majid affirmed the detemination to make Malaysia the leading investment destination in the electrical and electronics (E&E) industry.

At the opening of the exhibition, Malaysian Prime Minister Anwar Ibrahim announced that Malaysia will allocate 25 billion RM (5.3 billion USD) to train 60,000 local engineers and expand the domestic semiconductor industry./.