By Reuters | Updated: May 28, 2024
KUALA LUMPUR, May 28 (Reuters) – Malaysia is targeting at least 500 billion ringgit ($107 billion) in investment for its semiconductor industry, Prime Minister Anwar Ibrahim said on Tuesday, as the Southeast Asian country looks to boost its position in the global supply chain.
Malaysia is a major player in the semiconductor industry, accounting for 13% of global testing and packaging. It has attracted multi-billion dollar investments from leading firms in recent years, including Intel (INTC.O) and Infineon (IFXGn.DE).
Anwar said the investment being sought would be for integrated circuit design, advanced packaging and manufacturing equipment for semiconductor chips.
Malaysia also wants to establish at least 10 local companies in design and advanced packaging for semiconductor chips, with revenues between $210 million to $1 billion, Anwar said in a speech at an industry event.
The Southeast Asian country will allocate $5.3 billion in fiscal support to meet these targets, he added.
Anwar did not specify a timeline for the targets to be met.
($1 = 4.6910 ringgit)
@ Thomson Reuters 2024
