Malaysia is actively courting foreign investors in high-value sectors, with a strong focus on electric vehicles and semiconductors, aiming to elevate its industries and move up the value chain. The country’s expertise in semiconductor chips and its plans to expand into integrated circuit design make it a key player in the global supply chain, while also exploring opportunities in carbon capture, aerospace, petrochemicals, digital economy, and pharmaceuticals.
4 November 2023 – Malaysia is actively seeking foreign investments in high-value industries, with a particular focus on electric vehicles (EVs), semiconductors, and carbon capture, according to Tengku Zafrul Aziz, Malaysia’s Minister of Trade and Investment. The country, known for its manufacturing prowess, aims to elevate its industries and move up the value chain, especially in sectors like energy and electronics.
Tengku Zafrul Aziz emphasized the importance of attracting the right kind of investment to generate the desired spillover effects. Malaysia is exploring new areas such as carbon capture, usage, and storage due to its significant presence of oil wells. Additionally, the country aims to become a key supplier of components for electric vehicles.
Malaysia sees the EV industry as a natural progression, leveraging its well-established electrical and electronics sector, particularly in semiconductor chips. With each electric vehicle estimated to contain over 1,400 chips, Malaysia’s expertise in this field positions it as a valuable player in the global EV supply chain.
Furthermore, Malaysia aspires to evolve within the semiconductor industry beyond assembly and testing. Currently, the country accounts for approximately 13% of global testing and packaging in the semiconductor sector. The goal is to advance into integrated circuit design and wafer fabrication, further enhancing Malaysia’s semiconductor capabilities.
In addition to electric vehicles and semiconductors, Malaysia is also exploring investment opportunities in the aerospace, petrochemicals, digital economy, and pharmaceutical industries. Tengku Zafrul Aziz is set to engage with potential investors in the United States and attend meetings with leaders of the Asia-Pacific Economic Cooperation (APEC) to further promote these investment opportunities. – ref: Reuters