Kuala lumpur: Malaysia is exploring new markets for its semiconductor industry as part of its diversification efforts to move into new and non-traditional markets, said Prime Minister Datuk Seri Anwar Ibrahim.

According to BERNAMA News Agency, the Prime Minister highlighted China’s significant advancements in the semiconductor field and expressed Malaysia’s eagerness to learn and explore potential collaborations with Chinese counterparts. Anwar emphasized Malaysia’s position as a hub for semiconductors in Southeast Asia, noting that over 60 per cent of its electrical and electronic, as well as semiconductor products, are exported to the United States.

While Malaysia plans to continue its current partnerships, Anwar announced intentions to open up new markets and work with companies from China and Japan. He made these remarks during a question and answer session at his public lecture held at Tianjin University.

Anwar, who also serves as Finance Minister, stressed the importance of nurturing new talent in the field, particularly in emerging technologies like artificial intelligence (AI). He emphasized the potential opportunities as China has opened its doors to collaboration, highlighting the importance of incorporating a training component in these efforts.

The Prime Minister revealed his plans to meet with China-based semiconductor players to discuss potential collaborations and strategies. This meeting is part of his four-day working visit to China, which is his fourth visit to the country since taking office in November 2022.