The government is reaching out to the Malaysia Semiconductor Industry Association to improve the investment climate and ease of doing business to attract global semiconductor companies to relocate to Malaysia.
“This will position Malaysia as a preferred investment destination for renowned companies wanting to expand abroad and grow their business due to geopolitical tensions brought on by the US-China chip war,” Wong, who is a veteran with 27 years of working experience in the semiconductor industry, told Bernama in an interview today.
Malaysia needs to prepare for foreign investments by building the necessary infrastructure and not rest on its laurels amid regional competition, he said. Competition is stiff as these companies are being pursued by countries like Vietnam, Thailand, the Philippines and India, all of which are “trying to also chip in and play the game”.
“The good news is that the government is engaging with MSIA,” he said, adding that MSIA’s feedback has led to online applications for work permits for expatriates in the industry being shortened to just 10 days now from 6-12 months in 2022-2023, and a mere five days for those in the green lane or fast-track basis.
One of the major factors that led foreign semiconductor companies to relocate to other destinations besides their home base was business grinding to a halt during Covid-19.