Mida eyes RM13b approved investments for E&E industry in 2019

28 Mar 2019 / 15:34 H.

KUALA LUMPUR: Malaysian Investment Development Authority (Mida) expects higher approved investments of RM13 billion for electrical and electronic (E&E) industry in 2019, an increase of 16.07% from RM11.2 billion in 2018, supported by the sector’s strong and vibrant ecosystem.

“The presence of major multinational companies (MNCs) as well as Malaysian-owned companies also continuously contribute to the steady growth of the E&E industry in Malaysia,” Mida’s CEO Datuk Azman Mahmud (pix) told reporters at the pre-event media briefing on the upcoming SemiCon Southeast Asia 2019 today.

“But that is subject to the global scenario. Hopefully we won’t have any major setback in the global market,” he added.

To promote the growth of local supply chain, he said Mida has adopted the ecosystem approach to fill up the gaps in the semiconductor automotive which is currently driven by the needs for safety and comfort in driving.

“Mida is also aggressively promoting knowledge intensive design activities under the E&E industry.

“All these are the illustrations on how the government completes the industry ecosystem to create sustainable local supply chain and be part of the global value chain,” he added.

Earlier, Semi Southeast Asia Pte Ltd president Ng Kai Fai said he foresees the semiconductor global market’s revenue will continue its healthy trajectory in the coming years amid a softening 2019.

He said this is given the rapid pace in the development of smart manufacturing, consumer technologies, autonomous vehicle, wireless communications and Artificial Intelligence enabled by the IoT (Internet of Things).

Semi, the global not-for-profit association, together with Mida will bring the SemiCon Southeast Asia to Malaysia from May 7-9, at Malaysia International Trade and Exhibition Centre.

Azman said the event aims to promote the technological advancements taking place in the semiconductor industry.

Prime Minister Tun Dr Mahathir Mohamad will be officiating this event.

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