Liew calls on semiconductor sectors to offer higher wages - MIDA | Malaysian Investment Development Authority
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Liew calls on semiconductor sectors to offer higher wages

Liew calls on semiconductor sectors to offer higher wages

30 May 2024

Semiconductor industry players should offer higher wages and attractive packages to lure lost talents back home, said Deputy Minister of Investment, Trade and industry (MITI) Liew Chin Tong.

He stressed that the neighbouring countries are offering more attractive salaries to skilled workers in the industry.

“I always said that Malaysia doesn’t have a shortage of talents because our talents are actually working in Singapore. So, we need to find a balance,” he said in his address at the closing ceremony for the SEMICON Southeast Asia 2024 here today.

Liew said industry players must play their role to keep the best talents in the country to ensure that Malaysia is able to create a strong semiconductor ecosystem and achieve the goals outlined in the National Semiconductor Strategy (NSS).

He said Prime Minister Datuk Seri Anwar Ibrahim has set a clear vision and deliverable actions under NSS, and that the government is keen to work on collective action with stakeholders.

“As a nation, we will have to work with you closely, with all our partners, in order to create some form of semiconductor diplomacy,” he said.

While the government is looking forward to boost foreign direct investments, it also aims to localise innovation and create domestic technology giants.

“We want to localise innovation as much as possible in order to create a strong Malaysian presence as well as regional cooperation for the sector,” he said.

In addition to attracting RM500 billion in investments during the first phase of the plan, the nation aims to establish at least 10 Malaysian companies in design and advanced packaging, each with revenues ranging from RM1 billion to RM4.7 billion.

It also hopes to nurture at least 100 semiconductor-related companies with revenues approaching RM1 billion, thereby creating higher wages for Malaysian workers.

Source: The Star