BUSINESS

MORE E&E SUPPORT POLICIES NEEDED TO ALLOW SEMICONDUCTOR SECTOR TO MOVE UP VALUE CHAIN - MSIA

22/02/2024 11:43 AM

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Feb 22 -- The Malaysia Semiconductor Industry Association (MSIA) reckoned that the National Semiconductor Strategic Task Force (NSSTF) needs to develop more strategies and policies to enhance the electrical and electronics (E&E) ecosystem to move up the value chain in strategic areas.

This is to allow the country to determine the path of the semiconductor sector, therefore all stakeholders need to be involved, MSIA president Datuk Seri Wong Siew Hai said in an interview.

He said MSIA is looking forward to contributing to the NSSTF as it is seen to be established at the appropriate time amid the current hyper-competitive environment.

“Given the contribution of the E&E industry to the Malaysian economy and Malaysia’s critical role in the global supply chain, all stakeholders must work together to maximise Malaysia’s full potential in this industry.

"Malaysia can do it, with the 50 years of industrial experience, its talent pool and the collective effort of all stakeholders," he told Bernama.

He added that Malaysia needs to develop and attract investments with advanced technology and talents. 

The establishment of the NSSTF is to ensure that the implementation of investment into the country will achieve the Madani Economy’s objectives, including placing Malaysia in the world’s top 30 largest economies, and the top 12 in terms of global competitiveness within 10 years, Prime Minister Datuk Seri Anwar Ibrahim said in January.

The nation aims to achieve the goals by focusing on greater regionalisation and competitiveness and moving up the value chain.

In a statement recently, Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz said NSSTF will focus on several aspects, namely incentives, talent and ecosystem to transform and improve Malaysia's E&E industry.

He said the NSSTF introduced 10 industry experts appointed as members of a special advisory panel to the task force, consisting of experts in several value and supply chains in the semiconductor industry in Malaysia, representing local companies as well as multinational corporations.

When chairing the task force's first meeting, he highlighted that among the matters prioritised by MITI and the NSSTF were the review and reform of the incentive policy to ensure Malaysia remains competitive in attracting foreign direct investment as well as domestic direct investment to generate growth in the E&E sector. 

"Additionally, the development and production of quality talent will be prioritised to meet the dynamic demand of the industry so that Malaysia's position as a centre of innovation and excellence remains strong. 

"The task force will also identify appropriate sectors to form the basis of sustainable growth, for example, through a local vendor development programme, as we also need to open up opportunities for local companies and small and medium enterprises to receive benefits from the development of our E&E industry ecosystem," Tengku Zafrul said.

-- BERNAMA


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