KUALA LUMPUR: Malaysia said on Friday it had a pipeline of investment projects worth about US$13 billion and that many local and foreign ...
KUALA LUMPUR: Malaysia said on Friday it had a pipeline of investment projects worth about US$13 billion and that many local and foreign electrical and electronics firms were looking to relocate their businesses to the country to diversify production.
Its five-decade-old E&E industry accounts for 10per cent of the global back-end semiconductor output, and the government said it was engaging high-technology businesses looking for alternative production sites after the COVID-19 pandemic and U.S.-China trade war exposed their heavy dependence on China.
"Many viewed that Malaysia can be a new alternative centre for Asia, having the advantage as a strong E&E base, good supporting local engineering supporting cluster and talent base." MITI said it was working on drawing a further 433"high-profile leads" with potential investments of 97.4 billion ringgit. It declined to name the potential investors.
In a success for Malaysia this week, Germany's Bosch Group announced that next year it would build a plant in the Southeast Asian country's north to test components such as semiconductors used in automotive airbag systems or engine-control units. Bosch does similar testing at home as well as in China.
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