Kuala lumpur: The electrical and electronics (E and E) sector, particularly semiconductors, is set to remain a key focus for potential investments this year. This was revealed by Malaysian Investment Development Authority (MIDA) chairman Tengku Datuk Seri Zafrul Abdul Aziz, who highlighted the sector's inclusion in new investment strategies.
According to BERNAMA News Agency, Tengku Zafrul emphasized the long-standing focus on industry diversification within MIDA's agenda. He noted that the New Industrial Master Plan 2030 (NIMP 2030) and the National Semiconductor Strategy (NSS) are pivotal to further developing the E and E ecosystem built over the last six decades. In addition to semiconductors, the chemical and petrochemical, and aerospace sectors are also critical, especially with the increased emphasis on sustainability and green technology.
Tengku Zafrul underscored Malaysia's ambition to strengthen its position as a major logistics hub, crucial for a nation heavily reliant on trade. Reinforcing the country's capacity as a regional, if not global, logistics hub is essential for trade facilitation.
He stressed the importance of the spillover effects of these investments, highlighting contributions to the macroeconomy through metrics such as GDP, inflation, and employment. He pointed out that focusing on these sectors will yield high-complexity jobs that offer better pay for graduates and Malaysian workers.
The ultimate goal, as outlined by Tengku Zafrul, is to integrate local companies into the global value chain. This involves expanding their reach beyond Malaysian clients to support multinational corporations, thereby entering markets in countries like India, China, and the United States.
On the topic of formalized projects or memoranda of understanding, Tengku Zafrul mentioned that while many are in the pipeline, official announcements should be made by the companies involved. He indicated that the investment pipeline appears promising, with many projects carried over from the previous year.
Tengku Zafrul concluded by addressing the lack of specific investment targets, noting that MIDA's management is still in the process of finalizing details. He stressed the importance of considering global economic trends and the right spillover impacts when evaluating sectoral investments.