Malaysian chip firms aims to double exports by 2030

Malaysia’s semiconductor industry aims to double its exports to 1.2 trillion ringgit ($257 billion) by 2030, according to a Bernama report that was published in The Edge.

The target will cement the country’s position as the sixth-largest chip exporter in the world, the report said, citing Wong Siew Hai, president of the Malaysia Semiconductor Industry Association.

“We projected that we need 300,000 talents to achieve the target,” he said. The Southeast Asian country, however, is facing a talent shortage locally and at the moment is resorting to hiring people from overseas.

Malaysia exported 575.45 billion ringgit-worth of semiconductors last year after hitting a record 593 billion ringgit of sales in 2022.

The country is emerging as a key bet on artificial intelligence-related services in Asia after US tech giants Microsoft Corp., Alphabet Inc. and Nvidia Corp. had already announced plans to build data centers there in the past year. The Malaysian government is also courting Chinese investors to establish data centers in its attempt to attract more “high quality” investments.

Meanwhile, the association is proposing to offer work to foreign students in Malaysia, especially those in science and engineering fields, to tackle the labor shortage problem. “I think this is under consideration but hopefully we could hear some positive news,” Wong said.