KUALA LUMPUR, July 24 — The Malaysia Semiconductor Industry Association (MSIA) targets semiconductor exports reaching RM1.2 trillion by 2030.
Its president Datuk Seri Wong Siew Hai said the target solidifies Malaysia's position as the sixth largest exporter in the world and represents a compound annual growth rate of approximately 7.6 per cent from the current export value.
“To achieve this growth, Malaysia will need to focus on improving its capabilities across the semiconductor value chain, including advanced packaging, integrated circuit design, and smart manufacturing,” he said at a fireside chat session during the Tech in Asia Conference 2024 today.
As such, Wong said the government must collaborate with local industries to tackle existing challenges, particularly talent shortage.
"In talent development, the government and industry must work together to attract, train, and retain more local talent through initiatives like scholarships, cross-disciplinary training programmes and collaborations with universities.
"We projected that we need 300,000 talents to achieve the target, and 60,000 of them will be technical talents like material scientists and chemists as well as engineers," he said.
Meanwhile, the semiconductor industry needs to use talents from other countries to fill up the empty gap in Malaysia's talent base.
"We now have 10,000-20,000 foreign talents in Malaysia. With these foreign students studying here, especially in science and engineering, we can offer them jobs here as well.
"I think this is under consideration, but hopefully, we can hear some positive news," Wong said.
In 2023, the national semiconductor industry exports dropped by three per cent to RM575.45 billion from 2022's record year of RM593 billion.
— Bernama
