Investment, Trade, and Industry Minister Tengku Zafrul Aziz announced the government’s decision to establish a national semiconductor strategic task force with the aim of fostering the growth of the semiconductor ecosystem and attracting strategic investments.
Tengku Zafrul will assume the role of the task force chair, leading a collaborative effort that includes various ministries, academics, as well as domestic and global industry stakeholders, according to FMT.
He emphasised that the task force’s objective is to reinforce the semiconductor sector, currently contributing 13% to global chip assembly, testing, and packaging activities, and holding a 10% share in the global semiconductor market.
Highlighting the sector’s significance to the nation’s electrical and electronics (E&E) industry and other technology-based sectors like electric vehicles (EVs), Tengku Zafrul stressed the pivotal role of the semiconductor industry in Malaysia’s economic landscape.
On 12 December 2023, he expressed confidence that EVs would act as a catalyst for the growth of Malaysia’s manufacturing industry exports, asserting that Malaysia remains an appealing destination for EV investors.
Providing further context, the Trade Minister disclosed that between 2018 and June 2023, the Malaysian Investment Development Authority had greenlit 59 projects valued at RM26.2 billion in the EV sector and related ecosystems.
These projects span various areas, including vehicle assembly, manufacturing parts, and charging components, reinforcing Malaysia’s standing in the rapidly evolving EV market.
