KUALA LUMPUR, Nov 18 — The leadership change in the United States is set to affect the global trade landscape, particularly in trade relations between the United States and China.
The Investment, Trade and Industry Ministry (Miti) said should the geopolitical issues continue, there is a greater opportunity for countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.
According to Miti, the government has introduced various initiatives to attract investors to move or expand their operations in Malaysia as a result of the US-China trade war.
Among the initiatives are making the semiconductor industry a major programme under the New Industrial Master Plan (NIMP) 2030 and drafting a National Semiconductor Strategy, including efforts to modernise the existing outsourced semiconductor assembly and test companies, which is an important element in the semiconductor value chain.
The government will also strengthen existing infrastructure, focus on local talent and encourage government-linked investment companies to invest in local semiconductor firms, Miti said in a written reply on the Parliament website today to a question posed by Mohd Syahir Che Sulaiman (PN-Bachok) in the Dewan Rakyat today about the government’s plan for the growth of the semiconductor industry in line with NIMP 2030, in view of the US-China trade war.
— Bernama
