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Investment, Trade and Industry Minister Tengku Zafrul Aziz announced the establishment of the National Semiconductor Strategy Task Force by the government to promote the development of the semiconductor ecosystem and attract strategic investments. Zafrul Aziz will chair the working group, which consists of multiple ministries, academia and industry players.
He pointed out that the semiconductor industry is crucial to key technology industries such as the country’s electrical and electronics (E&E) and electric vehicles (EV), and currently accounts for 13% of chip assembly, test and packaging activities and 10% of the semiconductor market globally. Zafrul Aziz stressed that electric vehicles will drive growth in Malaysia’s manufacturing exports and said the country remains a favorable destination for investment in the electric vehicle sector.
As of June 2023, the Investment Development Authority has approved 59 electric vehicle projects worth a total of RM26.2 billion, covering vehicle assembly, parts manufacturing and charging components.
(Source: freemalaysiatoday Image source: freepik)
