Semiconductor task force to focus on incentive, talent aspects of transforming Malaysia’s E&E industry
16 Feb 2024
The National Semiconductor Strategic Task Force (NSSTF) will focus on several aspects, namely incentives, talent and ecosystem, to transform and improve Malaysia’s electrical and electronics (E&E) industry.
When chairing the task force’s first meeting, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said among matters prioritised by the Ministry of Investment, Trade and Industry (Miti) and the NSSTF are the review and reform of the incentive policy.
He said this is to ensure Malaysia remains competitive in attracting foreign direct investment, as well as domestic direct investment, to generate growth in the E&E sector.
“Additionally, the development and production of quality talent will be prioritised to meet the dynamic demand of the industry, so that Malaysia’s position as a centre of innovation and excellence remains strong.
“The task force will also identify appropriate sectors to form the basis of sustainable growth, for example, through a local vendor development programme, as we also need to open up opportunities for local companies and small and medium enterprises to receive benefits from the development of our E&E industry ecosystem,” he said in a statement on Friday.
The NSSTF was established via the National Investment Council meeting on Jan 9, 2024, as a special platform to discuss and implement the development direction of the Malaysian semiconductor industry ecosystem, including efforts to attract strategic and quality investments.
In its first meeting, the NSSTF officially introduced 10 industry experts appointed as members of a special advisory panel to the task force, consisting of experts in several value and supply chains in the semiconductor industry in Malaysia, representing local companies, as well as multinational corporations.
“The special advisory panel has the role of providing insights and feedback to the NSSTF on strategies and policies to enable Malaysia to continue to grow and improve its position in the global semiconductor industry,” the ministry said.
Meanwhile, Collaborative Research in Engineering, Science and Technology (CREST) will function as a secretariat to coordinate knowledge-sharing and strategic planning activities via the NSSTF.
Source: Bernama
