Govt to Establish Task Force to Grow Semiconductor Sector

Govt to Establish Task Force to Grow Semiconductor Sector

10 January, 2024

Investment, trade and industry minister Tengku Zafrul Aziz said the Malaysian semiconductor sector currently contributed 10% to the global semiconductor market.

January 9, 2024 – The government has decided to establish a national semiconductor strategic task force as a platform to grow the semiconductor ecosystem and draw in strategic investments, says investment, trade and industry minister Tengku Zafrul Aziz.

Tengku Zafrul said he would chair the task force, comprising various ministries, academics and domestic and global industry players.

“It is expected to further strengthen the sector, which currently contributes 13% to the global activities of chip assembly, testing and packaging, and 10% to the global semiconductor market,” he said in a statement.

Tengku Zafrul said the industry was vital for the nation’s electrical and electronics (E&E) sector and other technology-based industries such as electric vehicles (EVs).

On Dec 12, 2023, Tengku Zafrul said he believed EVs would catalyse the growth of Malaysia’s manufacturing industry exports.

He said Malaysia remained an attractive destination for EV investors.

Between 2018 and June 2023, the Malaysian Investment Development Authority approved 59 projects worth RM26.2 billion in the EV sector and its related ecosystems, encompassing vehicle assembly, manufacturing parts and charging components.

Source: Free Malaysia Today