GEORGE TOWN: Malaysia, ranked among the top 10 global hubs for semiconductors and electronics, is looking to increase its market share to 15 per cent by 2030.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the semiconductor industry was projected to grow into a trillion-dollar industry by the end of this decade, double its current value.
He said Malaysia was now ranked the seventh largest exporter of semiconductors in the world, with a market share of seven per cent.
He said the country was a key player in semiconductor assembly, testing and packaging activities, with a market share of 13 per cent.
"With the semiconductor industry projected to grow into a trillion-dollar industry by the end of this decade, we hope to raise the current 13 per cent market share to 15 per cent by 2030.
"If we can achieve 15 per cent, then our contribution will be big to the world's semiconductor industry," he told a press conference after the launch of Semicon Southeast Asia 2023 today.
Present was Penang Chief Minister Chow Kon Yeow.
To achieve this, Zahid said, one should focus on science, technology, engineering, and mathematics (STEM) education, which Prime Minister Datuk Seri Anwar Ibrahim had often emphasised.
"There has been a noticeable drop in interest in STEM education among our students.
"As such, we will encourage the uptake of STEM education, which we are doing now."
"We have 1,291 TVET (Technical and Vocational Education and Training) institutions under the National TVET Council and 250 institutions under the Rural and Regional Development Ministry," said Zahid, who is also the council chairman.
"We will ensure that the courses offered are based on market demand to produce a semi-skilled, skilled and professional workforce for the industry to reduce our dependence on foreign labour."
He said that there had been informal discussions with Chow about expanding Penang, known as the Silicon Valley of the East, to the island's mainland.
"And there can be cooperation with the Investment, Trade and Industry Ministry, Malaysian Investment Development Authority (Mida) and other related agencies to expand the semiconductor facilities."
Zahid also said Malaysia should not compete but complement other countries as the global hubs for semiconductors and electronics.
"We are providing the infrastructure and training for the workforce. We are also offering tax rebates and incentives. A special council has been established.
"We are working closely with Mida, the Human Resources Ministry and other ministries, including the Education Ministry and the Higher Education Ministry, to collaborate and execute the national objective to get more foreign direct investments, especially from multinational corporations, to invest in the semiconductor industry here."
Earlier in his speech, Zahid said Malaysians should be proud to experience and witness cutting-edge global technological innovation.
"We are also contributing towards writing the greatest story of our age.
"Our attractiveness as a global investment centre has drawn many high-tech companies from around the world to set up their operations here.
"I can assure you that better things are yet to come under this administration.
"For things to get even better, let us work together in tandem with both businesses and governments at all levels, from the federal government to the state governments together with their local authorities."
He also said with the current challenges of the Fourth Industrial Revolution, Malaysia could not be content with doing business as usual, adding that it was important for the country to up its game by continuing to sharpen its competitive edge, remain relevant in the value chain and strive to be ahead of others.