SHAH ALAM, Nov 13 — The state government is aiming to shift its strategy in exploring economic opportunities by enhancing local companies’ competitiveness, in line with its “Made by Selangor” aspiration, said Menteri Besar Dato’ Seri Amirudin Shari.
He added that this starts with the Ehsan Semiconductor Fund, a joint venture between Permodalan Negeri Selangor Bhd (PNSB) and the Selangor Information Technology and Digital Economy Corporation (SIDEC).
“To expand this mission to a national level, the federal government has agreed to establish a National Strategic Investment Fund, with a total commitment of RM150 million to be invested in local companies.
“This comprises RM50 million from the state government, RM50 million from the federal government channeled through Khazanah Nasional, and RM50 million from the Penang government,” he said when tabling the 2027 Selangor Budget at the Selangor State Legislative Assembly here today.
Amirudin added that this initiative could catalyse the growth of semiconductor startups while securing intellectual property rights for integrated circuit (IC) designs.
According to him, the effort will also facilitate the commercialisation and production of IC chips by leveraging local capabilities.
“Since 2023, the state government has shifted its focus from just pursuing basic jobs towards exploring new industries capable of offering the people high-paying jobs.
“We do not want the people of Selangor and our local companies to become overly dependent on technologies owned by foreign investors or overseas corporations,” he said.
Last year, he announced that the Selangor government, through SIDEC and PNSB, will collaborate with Artem Venture Fund to establish the Selangor Semiconductor Fund, known as Ehsan Capital, to strengthen the development of the semiconductor industry.
Amirudin reportedly said that Ehsan Capital, which targets a fund size exceeding RM100 million, will invest in at least seven high-potential startups within the local semiconductor design and technology sector.
