Minister of Investment, Trade, and Industry (MITI) Tengku Datuk Seri Zafrul Aziz announced that Malaysia’s semiconductor export is poised to benefit significantly from increased global demand.
He stressed the positive impact on the country’s electrical and electronics (E&E) sector, particularly in the chips and semiconductor industry, according to a Bernama news report.
The nation’s commitment to “active neutrality” in its relations between the United States (US) and China is deemed crucial, as Malaysian companies seek supply chain resilience.
Tengku Zafrul highlighted Malaysia’s substantial presence in the semiconductor sector, boasting a 12 to 13% global market share in the semiconductor testing segment and ranking as the sixth-largest exporter of semiconductors.
In an interview with CNN, he noted the E&E sector’s substantial contribution, constituting 40% of Malaysia’s total exports.
Despite a challenging global economic outlook, Tengku Zafrul revealed increased investments in Malaysia and the Southeast Asian region in the previous year.
In 2022, the total foreign direct investment (FDI) into ASEAN rose by 5%, contrasting with the 12% decline in global FDI.
Furthermore, Malaysia’s investments for the first nine months of 2023 reached a record high for the past decade, signalling opportunities amid the challenging global economic scenario.
Malaysia attracted RM225 billion in approved investments during the first nine months of the previous year, surpassing its full-year target for 2023. Foreign direct investment accounted for 55.9% of the total, showcasing the country’s resilience and attractiveness to investors.
