Semicon SEA 2024 kicks off with Malaysia's vision to lead semiconductor industry – The Malaysian Reserve
Wednesday, May 29th, 2024
at Economy | News
by VEISHNAWI NEHRU
THE Semicon South-East Asia (SEA) 2024 exposition aims to boost Malaysia’s transformation into a semiconductor powerhouse and regional manufacturing hub.
Held at MITEC Kuala Lumpur from today until May 30, the event is expected to attract even more investments to propel the nation further up the global value chain.
Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said currently, semiconductor exports account for 40% of total exports, making Malaysia the sixth largest exporter in this sector.
“With continued growth expected, global demand for semiconductors is projected to reach US$1 trillion (RM4.69 trillion) by 2030,” he said at the launch today.
He explained that for over five decades, Malaysia has built a strong legacy as a key player in Asean’s semiconductor circuit, while playing an important role in the global electronics supply chain.
“This strategic positioning has given our electrical and electronics (E&E) particularly the semiconductor industry, access to a global market of over four billion people,” he said, adding that today the world is at the cusp of another tech-based revolution powered by artificial intelligence (AI).
“The future lies not just in assembling and testing chips, but more in the exciting realm of innovation and design.
“Malaysia, with its world-class manufacturing facilities, innovative research and development (R&D) centres, and highly skilled workforce, is positioned to seize this historic opportunity, buoyed by attractive incentives, modern infrastructure and a strategic, earthquake-free location,” he said.
Tengku Zafrul added that leveraging advancements in technology, AI and everyday applications, Malaysia aims to capitalise on its 50-year presence in the industry and progress to the next level of value.
He noted that the stronger macroeconomic forecast of 2024 signals a positive trend during this global technology upcycle.
“This is evidenced by anticipated growth in key economic indicators, coupled with trends towards lower inflation and unemployment rates, as well as an improving outlook for the ringgit,” he said.
Themed “Boosting Agility and Resiliency of the Global Electronics Supply Chain”, Semicon SEA 2024 addresses sustainability, chiplet technology and workforce development with nearly 500 participating exhibitor companies and over 1,000 exhibition kiosks.
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