Malaysia Strengthening Semiconductors, Solar & Led Ecosystems, Says MIDA

KUALA LUMPUR, April 24 (Bernama) -- Malaysia is focusing on strengthening three major ecosystems of semiconductors, solar and light-emitting diode (LED) in the electrical and electronics (E&E) industry, says the Malaysian Investment Development Authority (MIDA). "Semiconductors will continue to spearhead the growth of the E&E industry in the country, boosted by growing demand in the usage of mobile and storage devices, optoelectronic and embedded technology," said Deputy Chief Executive Officer Phang Ah Tong at a half-day seminar in Singapore Wednesday. Extracts of his speech delivered at the seminar, themed 'Completing the Electrical and Electronics Chain in Malaysia', were compiled in a statement issued by MIDA in Kuala Lumpur. In 2013, MIDA approved 118 E&E projects with approved investments of US$2.99 billion (RM9.76 billion). Out of the total investments, foreign investments accounted for 86.7 per cent which mostly came from the United States and Singapore. Phang said Malaysia was consolidating its position as one of the largest solar panel producing nations and was focusing on completing the solar value chain and cluster. "Although further consolidation in the solar PV manufacturing sector is expected throughout 2014 globally, these investments will nonetheless strengthen the solar PV industry in Malaysia. "It will also provide opportunities for industry players with profitable business models to gain market share," he said. He added the rise of general lighting applications utilising LED technology has induced further expansion and new investments in projects related to the LED/solid state lighting sub-sector in Malaysia. -- BERNAMA