Malaysia aims to lead global microchip production Bold move to dominate semiconductor industry

Malaysia is set to become a key player in the global microchip industry as the country ramps up efforts to boost its production of integrated circuits (ICs).

Rafizi Ramli, Malaysia's Minister of Economy, made this announcement during the opening of the national Semiconductor IC Design Park, Caliber.Az reports citing Russian media.

Ramli outlined several strategic initiatives designed to elevate Malaysia's position in the technology sector.

He emphasized that the goal is not merely to host foreign manufacturing but to develop and produce advanced technology domestically.

The country's ambitions are reflected in forecasts from Statista, which predict a compound annual growth rate (CAGR) of 6.32 per cent for Malaysia's IC market from 2024 to 2029, with the market size reaching $4.8 billion by the end of this period.

In 2023, Malaysia's semiconductor exports to the Philippines alone exceeded $854 million, highlighting its growing influence in regional markets.

The project aims to position Malaysia as a potential powerhouse in the global IC design industry.

It is designed to leverage Malaysia’s technological capabilities and resources, fostering innovation and advancing the country's reputation in high-tech manufacturing and design.