The semiconductor industry is expected to remain a key driver of economic growth in Malaysia this year. Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said the export value of the local semiconductor industry, which ranged between 38% and 40% last year, is projected to stay consistent. He noted that if other industries' export values were combined, they would only reach around 40%, with the semiconductor industry covering the rest.
In terms of trade surplus, Malaysia also holds the highest position. Wong mentioned that last year, there were high expectations for the semiconductor industry to experience a significant surge, but this did not materialize. He attributed this to the focus on artificial intelligence, which Malaysia is not yet fully equipped for. The electric vehicle (EV) sector also faced challenges, experiencing a rise followed by a decline both domestically and globally. Despite global projections forecasting up to 16% growth for the industry, Malaysia is unlikely to see double-digit growth. Wong anticipates single-digit growth, with a clearer picture emerging from the second quarter onwards. He pointed out that the first quarter is typically weak for the sector. Wong expressed hope that the EV sector will recover alongside smart equipment manufacturing, including wafer fabrication (FAB) equipment manufacturing, which would provide the necessary boost to the industry. He emphasized the need to attract foreign direct investment for FABs, as they require significant funding. Mature FABs cost approximately US$3 billion, while high-end FABs could range from US$10 billion to US$20 billion
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