US-China Trade War Can Boost Malaysia's Chances To Be Multinational Investment Destination - MITI

KUALA LUMPUR, Nov 18 (Bernama) -- The new leadership change in the United States (US) is expected to affect the global trade landscape, particularly in trade relations between the United States and China.

The Ministry of Investment, Trade and Industry (MITI) said that should the geopolitical issues continue, there is a greater opportunity for other countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.

According to MITI, the government has introduced various initiatives to attract investors to move or expand their operations in Malaysia as a result of the US-China trade war.

Among the initiatives are making the semiconductor industry a major programme under the New Industrial Master Plan 2030 (NIMP 2030), drafting a National Semiconductor Strategy, including efforts to modernise the existing Outsourced Semiconductor Assembly and Test companies, which is an important element in the semiconductor value chain.

The government will also strengthen existing infrastructure, focus on local talent and encourage  government-linked investment companies to invest in local semiconductor companies, MITI said in a written reply on the parliament website today to a question posed by Mohd Syahir Che Sulaiman (PN-Bachok) during a question session in Dewan Rakyat today. 

Mohd Syahir inquired what the government's plan is for the growth of the semiconductor industry in line with NIMP 2030 in view of the US-China trade war.

-- BERNAMA