GEORGE TOWN – Malaysia aims to increase its market share in the global semiconductor market from the present 13% to 15% in the next five years by equipping its workers with the right skills to move the country up the manufacturing value chain.
Speaking during a press conference here, Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said the global market for semiconductors would reach US$1 trillion (RM4.56 trillion) by 2030 and currently, Malaysia especially Penang has a market share of 13% through its hold on the assembly and testing of electrical & electronics (E&E) products.
As it is a huge market which Malaysia can develop a niche in, the Bagan Datuk MP has directed the Malaysian Investment Development Authority and the International Trade and Industry Ministry to combine their resources to ensure that the country through Penang can achieve its aim to become a major player in semiconductors by 2030.
To realise this aim, Zahid said that the country has clinched a memorandum of agreement (MoA) with all industrial stakeholders in the E&E market.
This MoA will enable the government to tailor courses to suit industry needs through technical and vocational education training (TVET) while also engaging more students to acquire knowledge in science, technology, engineering, and mathematics (STEM) subjects.
The country, he said, is serious about ensuring that its education syllabus is fine-tuned to produce workers equipped with STEM and TVET skills.
“We want Malaysians to take over jobs currently held by foreigners by acquiring semi-skilled to fully skilled, and professional degrees in STEM and TVET.”
He emphasised on utilising Penang as an E&E hub, while citing that southern Kedah through the Kulim Hi-Tech Park can also be part of efforts to enhance the country’s stature in the global semiconductor market.
Zahid said that Malaysia is going all out to cement its position, judging from the country’s relentless move to migrate to a 5G network.
Malaysia also has the Glenmarie Hi-Tech Industrial Park in Selangor to offer investors.
Earlier, Zahid launched the annual SEMICON Exhibition Southeast Asia at the Setia SPICE exhibition centre in Sg Ara here.
Over 1,000 participants from throughout the world, especially multinationals with a presence in Malaysia, are attending the exhibition this year in Penang. – The Vibes, May 23, 2023
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