Malaysia Aims for RM1.2 Trillion Semiconductor Exports by 2030

The Malaysia Semiconductor Industry Association (MSIA) has set an ambitious target of achieving RM1.2 trillion in semiconductor exports by 2030. This would solidify Malaysia's position as the world's sixth-largest semiconductor exporter and represents a compound annual growth rate (CAGR) of approximately 7.6% from current levels.

To achieve this goal, MSIA President Datuk Seri Wong Siew Hai emphasizes the need to enhance capabilities across the semiconductor value chain, including advanced packaging, integrated circuit (IC)design, and smart manufacturing.

Addressing the critical talent shortage, Wong stressed the importance of collaboration between the government and industry. Initiatives such as scholarships, cross-disciplinary training programs, and university partnerships are essential to attract, train, and retain local talent. The industry requires a substantial pool of 300,000 talents, including 60,000 technical experts in fields like material science, chemistry, and engineering.

To bridge the immediate talent gap, the semiconductor industry is leveraging foreign talent. Malaysia currently hosts between 10,000 and 20,000 foreign workers, and there is potential to retain international students with science and engineering backgrounds. The industry is advocating for policies to facilitate this talent retention.

It's worth noting that Malaysia's semiconductor exports declined by 3% to RM575.45 billion in 2023 compared to the record-breaking RM593 billion achieved in 2022.

Source: BERNAMA

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Faiz is a dynamic entrepreneur and seasoned logistics expert with a passion for reshaping the industry. As a Chartered Fellow, he holds leadership positions in esteemed organizations such as the Federation of Malaysian Freight Forwarders and Persatuan Pengusaha Logistik Bumiputera. His academic pursuits include a Bachelor's degree from UiTM and an Executive Post-Grad Diploma from the University of Cambridge.

Founder of Sufi Group and co-founder of Global Freight Network, Faiz boasts a diverse portfolio encompassing logistics,supply chain, business advisory, container trading, and lifestyle yacht services. Beyond his professional endeavors, he is a dedicated family man, a sports enthusiast, and a keen observer of culture and the arts. His infectious enthusiasm and strategic acumen make him a valuable asset to the industry and a respected figure in the business community.