Govt allocates RM25bil to operationalise National Semiconductor Strategy

Govt allocates RM25bil to operationalise National Semiconductor Strategy

28 May 2024

The government will allocate at least RM25 billion (USD 5.3 billion) in fiscal support to operationalise the National Semiconductor Strategy (NSS).

In his keynote address at the launch of SEMICON Southeast Asia 2024, Prime Minister Datuk Seri Anwar Ibrahim said the allocation was among the five targets from NSS that was launched in April, this year.

“The government will train and upskill 60,000 high-skilled Malaysian engineers and allocate at least RM25 billion (USD5.3 billion) in fiscal support to operationalise the NSS with targeted incentives.

“The details (of the incentives) will be announced by the ministry soon,” he said at the launching of SEMICON Southeast Asia 2024 at Malaysia International Trade and Exhibition Centre (Mitec) here, today

Present was International, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Meanwhile, other targets include the attraction of at least RM500 billion in investments for Phase 1 of the National Semiconductor Strategy (NSS) which is spearheaded by the Ministry of International, Trade and Industry (MITI).

“Other targets include the establishment of at least 10 local companies in design and advanced packaging with revenues between RM1 billion to RM4.7 billion, and at least 100 semiconductor-related companies with revenues close to RM1 billion, creating higher wages for Malaysian workers by Phase 2.”

Other targets will also see Malaysia being developed as a global research and development (R&D) hub for semiconductors that feature world-class universities, corporate R&D and centres of excellence.

Source: NST