KUALA LUMPUR (May 28): Various key strategies to enhance the global footprint of Malaysia's semiconductor sector will be announced by Prime Minister Datuk Seri Anwar Ibrahim later on Tuesday, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
Tengku Zafrul said the prime minister will be making the announcement in the afternoon at the Semicon Southeast Asia 2024, a three-day conference held at the Malaysia International Trade and Exhibition Centre (Mitec) here from Tuesday to Thursday.
“It will be about strengthening our position in the semiconductor space, and emphasising the importance of semiconductors, [as well as] the role that Malaysia can play in the global value chain,“ Tengku Zafrul told reporters on the sidelines of the Semicon's opening ceremony on Tuesday morning.
The Edge learnt that Anwar will be attending the summit at 3pm.
Earlier, in his opening speech, Tengku Zafrul expressed confidence in Malaysia's robust semiconductor foundation, firm geopolitical neutrality, and diplomatic investments, asserting that the time is ripe to elevate the country into a genuine semiconductor powerhouse and regional manufacturing hub.
He noted that the government had taken several initiatives to strengthen the country's value proposition to investors, such as focusing on infrastructure, including the RM1.5 billion expansion of the Penang International Airport, set for completion in 2028, demonstrating the government's commitment to supporting the semiconductor industry.
He also added that Malaysia, set to take over the Asean chairmanship in 2025, plans to strategically enhance collective efforts to elevate the region in global electronic supply and value chains.
“All these factors contribute to Malaysia's growing status as a preferred destination for semiconductor manufacturing and investment, further elevating Malaysia's role in the global semiconductor industry," he said.
Recognising that the electrical and electronics and semiconductor industries are also confronted with challenges and vulnerabilities, Tengku Zafrul said the government had proactively launched several initiatives to tackle the issues.
Among the initiatives include the establishment of a national semiconductor strategic task force aimed at leading improvements in three key areas — incentives, talents, and other essential elements — to nurture growth of the semiconductor industry.
"The political stability supported by policies such as our New Industrial Master Plan 2030 has laid a solid foundation for sustainable strategic growth that positions Malaysia at the forefront of the global electronics industry, particularly in semiconductors and related markets," he added.
To recap, the Ministry of Investment, Trade and Industry in April said it is set to unveil the Semiconductor Strategic Plan — a comprehensive strategic plan for the country’s semiconductor industry — by the end of this month.