KUALA LUMPUR, April 16 — The Ministry of Investment, Trade and Industry (MITI) will draw up a comprehensive Semiconductor Strategic Plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also the Finance Minister, said the matter was decided at the National Investment Council (NIC) Meeting Number 3 of 2024, which he chaired, earlier today.

Anwar said the strategic plan will include a more attractive incentive package to enhance the inclusion of strategic investments in high-tech semiconductors, particularly to encourage more front-end activities in the semiconductor industry in Malaysia.

"Rightly, this is important to attract the interest of various international semiconductor companies to establish high-quality semiconductor manufacturing facilities in Malaysia,” said Anwar through a post on his official Facebook page today.

Anwar said the meeting, among other things, also examined the country’s current position and future prospects for the semiconductor industry, including support for various expansion proposals that had been submitted to the Prime Minister.

"The meeting also discussed the proposal for the development of the Kerian Integrated Green Industrial Park (KIGIP) and agreed that it should be implemented as a joint venture by the government-linked investment company (GLIC) in collaboration with the federal government and the Perak government.

"This is a starting point for the Madani Government’s efforts to accelerate the development of KIGIP, which is seen as one of the main catalysts to attract green investments into the country.

"Furthermore, the operation of KIGIP will be entirely generated with Renewable Energy (RE) in line with the country’s aspirations towards achieving carbon neutrality as early as 2050,” added Anwar.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz through a separate post on his Facebook page said the strategic plan to be launched is in line with the initiatives under the New Industrial Master Plan 2030 (NIMP 2030).

"NIMP 2030 sets investments in wafer fabrication activities as one of the projects to further strengthen Malaysia’s position as a major player in the semiconductor sector in the region,” he said.

Tengku Zafrul said the strategic plan that will be drawn up is important to attract the interest of various international semiconductor companies to transfer or establish their respective high-quality semiconductor manufacturing facilities to Malaysia. — Bernama