MALAYSIA: Despite its significant contribution to the country’s economy, the electrical and electronics (E&E) industry should improve its capacity in local research and development, and in adding skilled talents.
Economic minister Datuk Seri Mustapa Mohamed said that these shortages need to be addressed so that the industry could progress after facing hindrances in growth and global competitiveness during the pandemic.
He added that the Economic Planning Unit is willing to collaborate with the Ministry of International Trade and Industry, Malaysian Investment Development Authority and industry members to meet E&E goals. He also mentioned that the government wanted to involve small and medium enterprises in the global E&E sector.
The minister acknowledged that Malaysia is a major global manufacturing hub with about 13% in semiconductor output and 40% of Malaysian exports come from the E&E.
Citing the 12th Malaysia Plan, the E&E industry is expected to provide RM120 billion (USD29 billion) in Gross Domestic Product, and RM495 billion (USD119 billion) in the country’s exports by 2025. Malaysia’s total trade in E&E products is worth RM477 billion (USD115 billion). Exports rose to 19% at RM282 billion (USD68 billion) in the first eight months of 2021.