Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has identified a significant opportunity for Malaysia in the electrical and electronics (E&E) sector amid tensions between the US and China.
He emphasised that the country should capitalise on this chance, noting the shift of investment flows towards the region. Tengku Zafrul expressed confidence, citing the influx of investors, particularly in the E&E sector, indicating a redirection of the supply chain to Southeast Asia, where Malaysia is already well-established, according to Bernama.
Emphasising the integral role of the E&E sector in the flourishing digital economy, he pointed out the need for products like chips and stressed the opportunity for Malaysia to strengthen its industry amid US-China geopolitical tensions.
Acknowledging the challenge of providing a skilled workforce, Tengku Zafrul mentioned the government’s commitment to addressing this issue in the short term to accommodate the demand from foreign investors.
He illustrated Intel’s commitment to investing RM30 billion over the next decade to expand operations in Penang and Kedah, highlighting the collaboration with Universiti Sains Malaysia to develop highly skilled talents. This additional investment is anticipated to create over 4,000 job opportunities at Intel.
Despite the abundance of talent in Malaysia, the minister acknowledged that skilled labour has become an issue following substantial investment inflows. He stressed the need for short-term solutions and mentioned discussions with the higher education minister and human resources minister to find ways to address this challenge.
Additionally, efforts are underway to attract Malaysian professionals working abroad to return and contribute to the country’s growth.
