Semiconductor industry to woo Dutch, China investors
01 Apr 2024
The Malaysia Semiconductor Industry Association (MSIA) will visit the Netherlands to attract Dutch semiconductor companies to invest in Malaysia, while many Chinese firms are keen to relocate here.
Semiconductor firms relocating overseas are considering Malaysia as their preferred investment destination as every company is preparing for future growth, driven by the phenomenal increase in the usage of artificial intelligence (AI) in semiconductor chips.
MSIA president Datuk Seri Wong Siew Hai said the mission to the Netherlands follows a high-energy dialogue recently between the association and potential Dutch investors who were exploring business opportunities in the semiconductor sector in the Asia-Pacific region.
“We are now trying to make a trip to the Netherlands and convince them to come here. This is purely an industry initiative,” he said.
“When we see an opportunity like this, it is important to talk to them and tell them the attributes we have in Malaysia, more so since the companies are of high value which will strengthen our ecosystem,” he told Bernama.
The planned visit comes as Dutch firm Neways, a global innovator in mission-critical technology for leading semiconductor, connectivity and smart mobility companies, set up a new state-of-the-art manufacturing facility in Klang with production to start in the fourth quarter of 2024.
Wong also revealed that a lot of Chinese companies “are coming here” to overcome disruptions to their production and exports and avoid US tariffs following the US-China trade war.
As for companies preparing for future growth, he said semiconductor revenue is projected to increase to a staggering US$1 trillion (RM4.7 trillion) by 2030.
“This is driven by the phenomenal growth in the use of semiconductors in every aspect of our lives,” he said.
US companies are coming out of China and looking to relocate while Chinese companies unable to ship to the US due to Washington citing “national security” concerns are also wanting to move abroad to avoid American tariffs.
Malaysia, Wong said, should capitalise on this and the timing now is perfect due to the geopolitical tension between the US and China.
Source: Bernama
