BUSINESS

IC DESIGN PARK SET TO BRING IN ECONOMIC RETURNS OF RM500 MLN TO RM1 BLN

22/04/2024 09:42 PM

KUALA LUMPUR, April 22 (Bernama) -- The Malaysia Semiconductor Accelerator and IC Design Park: Selangor Hub, an initiative of the Selangor state government through its digital economy arm, is expected to bring in economic returns of RM500 million to RM1 billion.

Selangor Information Technology and Digital Economy Corporation (SIDEC) chief executive officer Yong Kai Ping said the integrated circuit (IC) hub, located in Puchong, Selangor, is expected to begin operations in July and contribute to the state’s economic growth.

He added that the state-of-the-art facility, developed in collaboration with the Federal Government, will open up professional career opportunities especially in the engineering field with high salary offers of between RM5,000 and RM7,000 a month.

He was speaking to reporters after signing a letter of intent with four strategic partners -- Softbank subsidiary ARM Ltd, Phison Malaysia (MaiStorage), SkyeChin Sdn Bhd and the Shenzen Semiconductor Industry Association -- here today.

The collaboration with these influential entities is aimed at leveraging global expertise and resources to boost local capabilities in semiconductor design.

“In the first year of operation, we expect more than 300 IC design engineers will be employed and the number will increase in the following year,” he said.

The IC Design Park, located in a 45,000 sq ft building initially, will be expanded up to 60,000 sq ft later to accommodate industry needs, Yong said.

“From three storeys, we will expand the building to six storeys. We have already received strong demand from international investors,” he added.

The signing ceremony, held on the sidelines of the KL20 Summit 2024, was witnessed by Economy Minister Rafizi Ramli, Digital Minister Gobind Singh Deo, Selangor state secretary Datuk Haris Kasim and Selangor state investment, trade and mobility committee chairman Ng Sze Han.

Prime Minister Datuk Seri Anwar Ibrahim launched the two-day summit that began today.

Ng said the hub is expected to be the largest IC design park in Southeast Asia.

“It is an excellent initiative as it will not only create job opportunities but also opportunities in support sectors such as logistics and food and beverages,” he said.

The primary goal of the park is to promote original design manufacturing, encouraging local involvement in product design, prototyping and production -- shifting from “Made in Malaysia” to “Made by Malaysia.”

-- BERNAMA


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