Intel Investment of More Than RM30Bil Underscores the Long-Term Strategic Association With Malaysia
Intel Corporation, one of
Intel Corporation, one of the world’s largest chip manufacturers announced its investment of more than RM30 billion for its facility in Malaysia. This investment underscores the long-term strategic association of a 50-year heritage of manufacturing excellence with Malaysia. The additional investment will help expand Intel Malaysia’s operations across Penang and Kulim.
This major investment, through their subsidiary, Intel Electronics (Malaysia) Sdn. Bhd., augurs well with Malaysia’s National Investment Aspirations (NIA), which looks to ensure Malaysia stays at the forefront as a global hub for quality investments while creating high-value jobs. This latest investment bolsters Malaysia’s role as a prominent site in Intel’s global manufacturing network. The new investment is expected to create over 4,000 job opportunities at Intel as well as over 5,000 construction jobs for Malaysians.
The expansion of Intel’s assembly test manufacturing, while also building out die prep capability with the addition of advanced packaging capabilities to Intel’s operation in Malaysia will help ignite growth of the high-tech ecosystem in the region. This investment is impactful not just in terms of enabling us to scale up on the volume of production but also in terms of moving up the value chain of technology transfer and capacity building. In this regard, the recent inking of the MoU between Intel and MIDA is expected to facilitate the cultivation of a thriving tech talent ecosystem and prepare Malaysia’s workforce for an increasingly digital and AI world. This undertaking is indeed timely given the bullish global demand driven by the chip shortages and the potential challenges arising from the recovery of the pandemic globally.
These developments encapsulate the long-term benefits and spin-offs arising from this new paradigm of foreign investment which goes hand-in-hand with the NIA initiative to create technologically advanced and high- impact human resource capabilities that commensurate with demands of the modern economy.
In the Twelfth Malaysia Plan, the Electrical and Electronics (E&E) industry has been identified as among the high impact industries that are key to realign Malaysia’s growth in a sustainable trajectory while strengthening the nation’s position in the global supply chain.
The Government aims for the E&E industry to move up the value chain through stronger adoption of advanced technologies which fits well into global Intel’s overall growth strategy.
On 17 December 2021, Intel had its groundbreaking ceremony to mark the construction of its new production facility at the Free Trade Zone Phase 3 of the Bayan Lepas Industrial Park. The multi-phased expansion project consists of several buildings and is expected to begin production in early 2024.
(Thursday) 9:00 am - 12:30 pm(GMT-11:00)