KUALA LUMPUR: The National Investment Council (NIC) meeting has approved the implementation of a specific framework for the National Semiconductor Strategy (NSS) which outlines a clear direction to target the development of 110 local companies in high-value activities.
The Ministry of Investment, Trade and Industry (MITI) said the high-value activities are integrated circuit design (IC design), advanced packaging and advanced manufacturing equipment.
“This includes 10 local companies related to semiconductors with revenue of between RM1 billion and RM4.7 billion, as well as supporting the establishment of 100 other companies, each expected to generate annual revenue of around RM1 billion,“ it said in a statement today.
According to MITI, Prime Minister Datuk Seri Anwar Ibrahim, while chairing the NIC yesterday which was the first meeting of the year, approved the implementation of the NSS specific framework.
In this regard, MITI said it will work closely with other ministries, such as the Economy Ministry, the Foreign Ministry, the Science, Technology and Innovation Ministry, the Digital Ministry, the Natural Resources and Environmental Sustainability Ministry and the Higher Education Ministry.
NSS was launched on May 28, 2024.
It aims to strengthen Malaysia’s position in the global semiconductor supply chain as a strategic step to increase added value to the contribution of the manufacturing sector to the growth of Malaysia’s gross domestic product as well as the addition of skilled talent and an increase in median wages in the manufacturing sector, as targeted by the New Industrial Master Plan 2030.
