Malaysia stands out as prime destination for investors to capitalise on E&E industry — MIDA
29 May 2024
Malaysia stands out as a prime destination for investors looking to capitalise on the thriving electrical and electronics (E&E) industry within the region, said the Malaysian Investment Development Authority (MIDA).
In 2023, Malaysia’s manufacturing sector attracted a total of RM152 billion in approved investments, with the E&E industry securing the lion’s share of investments with RM85.4 billion, said MIDA, Invest Selangor Bhd and SEMICON Southeast Asia in a joint statement today.
“Ranked sixth globally for semiconductor exports, Malaysia plays a critical role in the global E&E supply chain.
“The nation is responsible for seven per cent of the global semiconductor trade and 13 per cent of global chip assembly, testing and packaging activities,” it added.
MIDA said six out of the 12 largest semiconductor companies currently operate in Malaysia, underscoring its strategic importance and attractiveness as a hub for major industry players.
In response to this growing interest, SEMICON Southeast Asia 2024 is featuring INVEST@Southeast Asia Pavilion, a dynamic platform for investment agencies or organisations to connect with potential investors keen on exploring opportunities in Malaysia.
MIDA chief executive officer (CEO) Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency is steadfast in its commitment to position thriving E&E industry.
“With our investor-friendly policies, well-established infrastructure, and highly skilled talent pool, Malaysia offers an ideal environment for businesses seeking to establish and broaden their presence in Asia.
“Innovations such as nanometre technology, new semiconductor materials, sustainability-based processes, artificial intelligence (AI), and IoT-driven features are bifurcating and gaining significant momentum here,” he said.
As global leaders, it is imperative to stay ahead of the curve, and Malaysia’s supportive environment propels us towards this goal, Sikh Shamsul Ibrahim said.
“We are all the more ambitious than ever and look forward to showcasing Malaysia’s position as a strategic hub for innovation and investment at SEMICON Southeast Asia 2024,” he added.
Invest Selangor CEO Datuk Hasan Azhari Idris said the state offers a multitude of investment opportunities, apart from being a great place to work and live.
“Its robust economic growth is propelled by rich natural resources, world-class land, sea and air connectivity, and unrivalled urban commercialisation – an advanced commercial ecosystem,” he
said.
Meanwhile SEMI Southeast Asia president Linda Tan said MIDA and Invest Selangor’s collaboration and dedication towards driving investment opportunities during SEMICON Southeast Asia 2024 play a key role in attracting participants to the show.
“With their unwavering support, we are confident SEMICON Southeast Asia 2024 will be a dynamic platform for industry leaders, innovators, and stakeholders to come together, exchange ideas and explore the latest trends and opportunities in the electronics industry,” she said.
SEMICON Southeast Asia 2024 is held from May 28 to 30, 2024 at MITEC, Kuala Lumpur, with the theme ‘Boosting Agility and Resiliency of the Global Electronics Supply Chain’ and features two roundtable discussions at the Market and Industry Trends Forum – COLLABORATE@Southeast Asia and Forging Forward – Strengthening Malaysia’s Position in the Global E&E Value Chain.
Source: Bernama
