MI Breaking News
Spread the news

KUALA LUMPUR: Malaysia’s electrical and electronics (E&E) sector is expected to contribute RM120 billion to the country’s gross domestic product (GDP) and generate RM495 billion in export earnings by 2025 as Malaysia continues to attract high-quality investments and is expected to uphold its growth trajectory.

Malaysian Investment Development Authority (Mida) deputy CEO of Investment Promotion and Facilitation Sivasuriyamoorthy Sundar Raja (pix) said that for the first half of 2022 (H1’22), the manufacturing sector attracted RM43.1 billion in investments.

“Among the sub-sectors of the Malaysian manufacturing industry, E&E proves its mettle and robustness by continuously attracting the highest number of investments.

“During this period, the industry recorded a total of RM19.49 billion in approved investments and we expect to generate over 13,000 job opportunities, including highly skilled positions such as managerial, engineers and technicians,” he said during his opening speech at the Malaysia National Electrical and Electronics Forum 2022 here yesterday.

Sivasuriyamoorthy said the E&E industry is integral to the manufacturing sector and serves as a vital element to the nation’s economic prosperity.

“The sector is also a veritable cornerstone of the global semiconductor industry, producing 13% of the world’s back-end semiconductors in 2021, with exports accounting for 40% of total national output.

Sivasuriyamoorthy said some of the most prestigious and innovative electronics businesses in the world, such as Intel, STMicroelectronics, Infineon and others have increased their presence in Malaysia.

“Mida is committed to building a resilient and sustainable electronics supply chain in the Asean region.

“Apart from local industry players, we are expanding the benefits of our manufacturing ecosystem to global businesses and brands,” he said.

Sivasuriyamoorthy said that up until early this year, the biggest challenge facing the global semiconductor industry was shortages, mainly triggered by soaring demand for electronic consumer products, such as PCs and smartphones, during the Covid-19 pandemic.

He said US-China trade tensions also added difficulties for some global semiconductor players and resulted in global supply chain disruptions.

“To further strengthen the semiconductor supply chain, Malaysia has signed the US-Malaysia memorandum of cooperation in May 2022 on Semiconductor Supply Chain Resilience, which aims to provide guiding principles for both our nations,” he added. – Bernama

Click to rate this post!
[Total: 0 Average: 0]

Spread the news

Kazzylen Web Analytics.

Kazzylen Analytics lets you measure your heatmap as well as track your Flash, video, and websites and applications & more. Register & get access to all Analystics on our website FREE
Previous articlePaulo Bento quits as South Korea’s coach after defeat to Brazil
Next articleNigeria’s Tobi Amusan loses World Athlete Award to McLaughlin-Levrone


Please enter your comment!
Please enter your name here