TOP PIX: DrHughManning, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons
Malaysia needs a more resilient and flexible semiconductor supply chain for robust sustainable growth.
Therefore, Senior Minister and International Trade and Industry (MITI) Minister Datuk Seri Mohamed Azmin Ali said making the semiconductor and electronics supply chain more resilient in the long term could help lower costs, while making the industry more agile and efficient when faced with uncertainty and volatility.
Speaking at an event organised by the Malaysia Semiconductor Industry Association (MSIA) recently, he said this is needed as globally the industry is experiencing a period of high growth over the past year, with major semiconductor companies investing more than US$550 billion (US$1=RM4.36) in fabrication plants.
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Mohamed Azmin said the memorandum of cooperation on semiconductor supply chain resilience signed with the US is highly significant to Malaysia and that the country cannot overstress the positive impact of it.
He noted that MITI will be reaching out to the E&E industry by invoking plans to achieve the objective of the memorandum.
In 2021, E&E products worth RM455.7 billion were exported, up 18% from 2020 and representing 36.8% of Malaysia’s total exports.
MITI recently concluded a trade and investment mission to the US, securing RM16.52 billion investments including strategic investments from global manufacturing giants such as Texas Instruments and AMD worth RM7.92 billion, which are expected to provide over 4,000 jobs opportunities.
-BTS Media
