by ANIS HAZIM / graphic by TMR
MALAYSIAN companies should participate and be at the forefront in seizing opportunities in the electrical and electronics (E&E), particularly the semiconductor segment.
Currently, the country stands as a crucial global hub in the semiconductor global supply chain with approximately 7% of the total global semiconductor trade flowing through the nation.
Last year, the E&E exports recorded RM386 billion, accounting for 39.4% of Malaysia’s total exports.
“This is especially important as more global companies are seeking to capitalise on Malaysia to develop new technologies, venture into additional products and ramp up production capacities to meet the growing needs and demands of the industry,” stated Malaysian Investment Development Authority (Mida) CEO Arham Abdul Rahman at the Malaysia Semiconductor Industry Association (MSIA) webinar on Wednesday.
Arham said Malaysia welcomes investments of complex and high value-added products, intensification of research and development activities, adoption of digitalisation and new technologies.
“Malaysian companies are encouraged to participate in the greater E&E value chain, especially in closing the ecosystem gaps, such as in internal circuit (IC) design, advanced IC packaging, engineering and testing services, as well as electronic manufacturing services,” Arham stated.
Moreover, various stimulus packages, namely the National Economic Recovery Plan were introduced to continue supporting new and existing industry players and promoting the development of industries in Malaysia.
“These massive allocations are necessary to help businesses and industries to retain workers, meet market demands and remain operational beyond the current economic climate.
“We are optimistic that these measures will solidify Malaysia’s position as a competitive and profitable investment destination in line with our National Investment Aspirations,” said Arham.
He strongly urged industry players to take full advantage of all the packages available, particularly those offered through Mida to facilitate investments and businesses.
Also present at the webinar, MSIA president Datuk Seri Wong Siew Hai said the webinar was important to emphasise that Malaysia is open-for-business, with continued and sustained discussions between the government and E&E companies.
“This is part of the efforts to make Malaysia more competitive in the E&E sector and move up the global value chain,” Wong said.
Companies that are interested to leverage Malaysia to establish their E&E operations may engage with Mida’s E&E division through www.mida.gov.my.