KUALA LUMPUR : Malaysia is scouting for foreign investors in high-value industries such as electric vehicles, semiconductors and carbon capture, its trade and investment minister said on Thursday.
Malaysia is long known to be a manufacturing hub, and is now hoping to move up the value chain on well-established industries such as energy and electricals.
Malaysia is eyeing new areas such as carbon capture, usage and storage because it has a lot of oil wells, and supplying components for electric vehicles , Tengku Zafrul said. "That's why we are pushing very hard because we supply many of the components to the car," Tengku Zafrul said. Each electric vehicle is estimated to have over 1,400 chips.
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