More support policies needed to elevate semiconductor sector in value chain: MSIA

Malaysia Semiconductor Industry Association (MSIA) reckons that the National Semiconductor Strategic Task Force (NSSTF) needs to develop more strategies and policies to enhance the electrical and electronics (E&E) ecosystem for the semiconductor sector to move up the value chain in strategic areas.

This is to allow the country to determine the path of the semiconductor sector, therefore all stakeholders need to be involved, MSIA president Datuk Seri Wong Siew Hai said in an interview.

He said MSIA is looking forward to contributing to the NSSTF as it is seen to be established at the appropriate time amid the current hypercompetitive environment.

“Given the contribution of the E&E industry to the Malaysian economy and Malaysia’s critical role in the global supply chain, all stakeholders must work together to maximise Malaysia’s full potential in this industry.

“Malaysia can do it, with the 50 years of industrial experience, its talent pool and the collective effort of all stakeholders,“he told Bernama.

He added that Malaysia needs to develop and attract investments with advanced technology and talents.

The establishment of the NSSTF is to ensure that the implementation of investment into the country will achieve the Madani Economy’s objectives, including placing Malaysia in the world’s top 30 largest economies, and the top 12 in global competitiveness within 10 years, Prime Minister Datuk Seri Anwar Ibrahim said in January.

The nation aims to achieve the goals by focusing on greater regionalisation and competitiveness and moving up the value chain.