Malaysia targets more resilient semiconductor supply chain

Malaysia's Senior Minister and International Trade and Industry Minister Mohamed Azmin Ali (Photo: AP)

Kuala Lumpur (VNA) – A Malaysian official has underlined the need for a more resilient and flexible semiconductor supply chain for the country to navigate a course of robust and sustainable growth.

Senior Minister and International Trade and Industry Minister Mohamed Azmin Ali made the remark at a celebration of the electrical and electronics sector’s 50th anniversary held by the Malaysia Semiconductor Industry Association on May 30, Malaysia's Bernama news agency reported.

He said making semiconductor and electronics supply chain more resilient in the long term will help lower costs and make the industry more agile and efficient in the face of uncertainty and volatility.

This is imperative as the industry is experiencing a period of high growth on a global scale over the past year, with major semiconductor players making investments exceeding 550 billion USD in fabrication plants, the minister noted.

In 2021, Malaysia exported 455.7 billion RM (104.15 billion USD) worth of electrical and electronics products, up 18 percent from the previous year and representing 36.8 percent of the country’s total exports./.

VNA