Malaysian semiconductor exports to reach RM1.2 trillion by 2030 – MSIA

KUALA LUMPUR, July 25 – The Malaysia Semiconductor Industry Association (MSIA) targets exports to reach RM1.2 trillion by 2030.

MSIA president Datuk Seri Wong Siew Hai said the target solidifies Malaysia’s position as the sixth largest exporter in the world and represents a compound annual growth rate (CAGR) of approximately 7.6 per cent from the current export value. 

“To achieve this growth, Malaysia will need to focus on improving its capabilities across the semiconductor value chain, including advanced packaging, integrated circuit (IC) design and smart manufacturing,” he said in a fireside chat session at Tech in Asia Conference 2024 on Wednesday. 

He said the government needs to collaborate with local industries to tackle existing challenges, particularly talent shortage. 

“We projected that we need 300,000 talents to achieve the target, and 60,000 of them will be technical talents such as material scientists and chemists as well as engineers,” he said. 

Meanwhile, Wong said the semiconductor industry needs to use talents from other countries to fill up the empty gap in the country’s talent base. 

“We now have 10,000-20,000 foreign talents in Malaysia. With these foreign students studying over here especially in science and engineering, we can offer them to work here as well,” he said.