Malaysia is working to attract investment in high-tech industries such as semiconductors and electric vehicles to strengthen its position as a manufacturing hub. Government officials and business leaders recently discussed Malaysia’s potential during a conference. The Malaysian minister for investment, trade, and industry said the country wants to expand market access and build resilient supply chains for manufacturing sectors. Malaysia announced a new industry plan that requires $20 billion in investments over seven years to develop advanced manufacturing. Priority industries include electronics, chemicals, and electric vehicles. The plan aims to position Malaysia as a preferred investment destination and boost high-end manufacturing. Malaysia’s manufacturing sector accounts for over 20% of its GDP and contributes 80% of its total exports. The country wants to take advantage of the realignment and diversification of the global supply chain caused by trade tensions. Malaysia is seeking investments from Japanese companies and plans to introduce tax incentives to attract high-value sectors. The global chip industry has already increased investments in Malaysia, with German semiconductor company Infineon Technologies planning to spend up to €5 billion to expand its facility.
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