MIDA: Infineon’s latest RM25 bln investment reflects Malaysia’s commitment to fostering inclusive, vibrant economy
04 Aug 2023
Infineon Technologies AG’s latest investment reflects Malaysia’s commitment to fostering an inclusive and vibrant economy, generating various opportunities for local talents and industry supply chains, according to the Malaysian Investment Development Authority (Mida).
Followings Infineon Technologies’ “monumental achievement,” Mida’s chief executive officer, Datuk Wira Arham Abdul Rahman reaffirmed the agency’s commitment to facilitate industry players, including Infineon Technologies AG, to foster further growth in the Electrical and Electronics (E&E) industry.
“Infineon Technologies’ achievement in Malaysia is a source of great pride for Mida. The company’s advanced manufacturing operations and continuous expansion in the country, along with its adoption of new digital capabilities, are truly commendable,” he said in a joint statement by Mida and Infineon.
Recognising that decarbonisation greatly fuels the rapid growth of power semiconductors, in particular those based on wide bandgap materials, Infineon said it is now taking a further step to shape the industry by significantly expanding its Kulim (Kedah) fabrication operations – over and above the original investment announced in February last year.
The company on Thursday unveiled its plan to build the world’s largest 200mm SiC (silicon carbide) power fabrication (Power Fab).
It will invest additionally up to five billion Euros (RM25 billion) over the next five years in Kulim in a second phase of the construction of module three.
“Infineon’s further investments complement the National Investment Aspirations (NIA) and the New Industrial Master Plan 2030’s focus on attracting high-tech and high-value investments to support the country’s economic growth,” the joint statement stated.
The E&E industry is a significant catalyst for the Malaysian economy, playing a pivotal role in its growth and development, contributing nearly 7 per cent of the country’s gross domestic product.
In the first quarter of this year, the industry recorded RM2.06 billion worth of approved investments, initiated from 16 projects which would generate 1,729 higher-paying job opportunities.
E&E exports for the same period were RM142 billion, a 3.3 per cent increase compared to the corresponding period last year, according to Mida.