Govt optimistic National Semiconductor Strategy investment target can be achieved

Govt optimistic National Semiconductor Strategy investment target can be achieved

27 Nov 2024

The government is optimistic about the investment target set in the National Semiconductor Strategy (NSS), considering the encouraging performance of current investments in Malaysia’s semiconductor sector.

The Investment, Trade, and Industry Ministry (Miti) reported that throughout 2023, this sector contributed RM69.4 billion (82 per cent) of the total RM84.5 billion in approved investments for electrical and electronics projects.

For the first half of 2024, the government successfully attracted investments worth RM34.6 billion, of which RM0.98 billion was domestic investments, while RM33.63 billion was foreign investments.

“In addition, three local integrated circuit design companies were established during this period.

“As of the third quarter of 2024, NSS has created job opportunities for 4,673 individuals, with 97 per cent of the recruitment constituting technical workers, thus contributing to the country’s talent pool,” it said in a written reply published on the Parliament website today.

Miti was responding to Kubang Pasu MP Datuk Ku Abd Rahman Ku Ismail’s query on the progress made by implementing the New Industrial Master Plan 2030 and NSS.

Source: Bernama