More German companies will invest in Malaysia - Chang - MIDA | Malaysian Investment Development Authority
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More German companies will invest in Malaysia – Chang

More German companies will invest in Malaysia – Chang

07 May 2024

Science, Technology and Innovation Minister Chang Lih Kang is confident that more German companies will enter Malaysia to invest, following the recent major investment by Infineon Technologies AG.

He said that considering the many years of good bilateral relations between Malaysia and Germany, the relationship has become better now, especially after the recent visit by Prime Minister Datuk Seri Anwar Ibrahim to Germany this year.

“There are a lot of good German companies in Malaysia, including the recently announced major investment from Infineon.

“So, I can see that more German companies will (consider) joining them in Malaysia and hope that some of our businesses can also explore the market in Europe through Germany,” he told Bernama and RTM after delivering his keynote address at the 4th German-Malaysian Business Forum here today.

Chang said that Malaysia should dive more into the technology sector by working together with Germany, as Malaysia possesses a relatively complete ecosystem to do so.

“I think one of the areas that we can work together is, of course, technologically related, for example, with Infineon which is a big player in the semiconductor industry.

“In Malaysia, we have a relatively complete ecosystem, especially in Penang. So, I think we can work together and forge closer collaboration in the semiconductor sector,” he added.

Meanwhile, Chang, in his keynote address, said that the Ministry of Science, Technology and Innovation has collaborated with the Ministry of Higher Education and NVIDIA Corporation to launch the artificial intelligence (AI) sandbox initiative.

He noted that the initiative would facilitate the establishment of up to 900 AI startups, with 13,000 new AI talents to be trained by 2026.

“We aim to transition Malaysia into a knowledge-based economy by using AI as a key driver of innovation.

“The programme will not only provide Malaysians with new economic opportunities but also encourage entrepreneurship, attract foreign investments, and create high-value jobs in emerging AI-driven industries,“ Chang said.

The minister said that the potential of AI is that it can be used to increase productivity in multiple industries, but like any new technology, where there is opportunity, there is risk.

“This is why the AI governance and code of ethics is pivotal in establishing regulations and parameters for the technology to allow people to benefit from it while being aware of the risks and pitfalls,” he added.

Source: Bernama