COVID–19 NEWS   Owners of premises in buildings allowed to determine protocol on wearing of face mask at their venue - Johor Exco | Italy greenlights Omicron-adapted COVID-19 booster shots | New COVID-19 cases down 16.9 pct last week | Japan to simplify COVID-19 airport quarantine procedures | EMA endorses Omicron-adapted COVID-19 vaccines | 
BUSINESS

MoF, MIDA studying special incentives for DNeX, Foxconn investment

08/08/2022 04:03 PM

KUALA LUMPUR, Aug 8 (Bernama) -- The Ministry of Finance (MOF) and the Malaysian Investment Development Authority (MIDA) are studying the special incentives for the investment made by Dagang NeXchange Bhd (DNeX) and Hon Hai Precision Industry Co Ltd (Foxconn) from Taiwan.

Senior Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said his ministry is considering it as the joint effort between the two companies can draw high technology investments.

“The finance ministry and MIDA are studying the said investment. It is being discussed and I believe it will be considered by the MOF as it can attract new investments as at present we want to introduce more innovative investments to draw in high technology and quality investments,” the minister told Dewan Negara today in reply to questions about the latest development on the cooperation between DNeX and Foxconn.

On May 17, DNeX signed an MOU with Foxconn subsidiary  Big Innovation Holdings Limited (BIH) to set up a joint venture to build a wafer fabrication plant in Malaysia.

The facility can produce up to 40,000 wafers a month on 28-nanometer and 40-nanometer technology.

According to the minister, in 2021 MIDA had approved 94 projects in the electrical and electronics sector worth RM148 billion.

“Of that, 64 per cent, or RM95 billion, is from new projects and expansion by multinational companies such as  Infineon, Fuji Electric, Intel, Onsemi, Nexperia, AT&S, and others,”  he added.

--BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy