According to the latest report, the Malaysian Ministry of International Trade and Industry (MITI) recently gave a comprehensive report on the development of its domestic semiconductor industry to the country’s parliamentarians, pointing out that Malaysia currently accounts for about 7% of the global semiconductor trade volume, and the packaging and testing field accounts for 13%.
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In 2021, the export of electrical and electronic products will be 456 billion ringgit, of which semiconductor products will account for 62%. The MITI report also stated that the agency’s work focused on strengthening the position of the local semiconductor industry in the global supply chain, and adopted a series of incentives such as tax breaks and strategic investment funds.
MITI mentioned in particular that the country signed a memorandum of cooperation on the semiconductor supply chain with the United States in May this year, which is expected to bring more market opportunities to the local industry.
The favorable geographical environment has also attracted foreign investment. In 2021, the agency approved new investment projects for multinational microelectronics enterprises totaling RM95 billion investors include well-known companies such as TF AMD, Texas Instruments, and Roma.
