KUALA LUMPUR: Malaysia must capture opportunities in the electrical and electronics (E&E) space if it wants to improve its attractiveness as a global investment destination.

       Malaysian Investment Development Authority (Mida) chief executive officer Arham Abdul Rahman said Malaysia needs to be at the forefront in seizing opportunities in the E&E sector, particularly the semiconductor segment.

       He said this is especially important as more global companies are seeking to capitalise on Malaysia to develop new technologies, venture into additional products and ramp up production capacities to meet the growing needs and demands of the industry.

       “Malaysia welcomes investments of complex and high value-added products, intensification of research and development activities, adoption of digitalisation and new technologies.

       MSIA president Datuk Seri Wong Siew Hai (pic) said the webinar was important to emphasise that Malaysia is open for business, especially with continued and sustained discussions between the government and E&E companies to improve the ease of doing business in the country.

       “Malaysian companies are encouraged to participate in the greater E&E value chain, especially in closing the eco-system gaps, such as in integrated circuit (IC) design, advanced IC packaging, engineering and testing services, as well as electronic manufacturing services,” Arham said in a joint statement by Mida and the Malaysia Semiconductor Industry Association (MSIA) yesterday.

       Towards this, he added that various stimulus packages, such as Penjana, were introduced to continue supporting new and existing industry players and promote the development of industries in Malaysia.

       “These massive allocations are necessary to help businesses and industries to retain workers, meet market demands and remain operational beyond the current economic climate.

       “We are optimistic that these measures will solidify Malaysia’s position as a competitive and profitable investment destination in line with our national investment aspirations.”

       In this regard, Arham strongly urged industry players to take full advantage of all the packages available, particularly those offered through Mida to facilitate investments and businesses.

       Texas Instrument's Yoganaidu

       Texas Instruments Malaysia Sdn Bhd country managing director Yogannaidu Sivanchalam (pic above) echoed a similar sentiment.

       “Given the long-term trend of semiconductor growth in electronics, and the fact that manufacturing is the main engine of Malaysia’s economic growth, the government and industry players must seize this opportunity by improving Malaysia’s attractiveness as a global E&E investment destination,” he said in the same statement.

       Mida and MSIA hosted a webinar yesterday titled “Seizing the Next Wave of E&E Investment into Malaysia.”

       The webinar, which was broadcasted online, successfully attracted more than 350 participants, represented by manufacturers, service providers and potential investors.

       MSIA president Datuk Seri Wong Siew Hai said the webinar was important to emphasise that Malaysia is open for business, especially with continued and sustained discussions between the government and E&E companies to improve the ease of doing business in the country.

       “This is part of the efforts to make Malaysia more competitive in the E&E sector and move up the global value chain.”

       Presently, Malaysia stands as a crucial global hub in the semiconductor global supply chain, with approximately 7% of the total global semiconductor trade flowing through the nation.

       In 2020, E&E exports recorded RM386bil, accounting for 39.4% of Malaysia’s total exports.