GEORGE TOWN, Sept 7 — Malaysia aims to boost its local advanced technology equipment sub-sector with the creation of an advanced technology equipment cluster (ATEC), said...
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“The equipment industry can produce equipment for many other industries so that Malaysia can grow as a champion of tech equipment and through this, those companies with RM1 billion revenue will grow into US$1 billion companies within a decade,” he said.“It is our hope to create 10 Malaysian companies in the region of US$1 billion revenue and 100 Malaysian tech companies in the region of RM1 billion revenue,” he said in a press conference announcing the launch of ATEC.
Meanwhile, Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said Malaysia has strong automation and precision machining companies that have been proven to be able to support the semiconductor industry and beyond. Penang Chief Minister Chow Kon Yeow said often the surge of foreign direct investments into the state may not benefit local materials and equipment suppliers.
He said he doesn’t want investors to feel uncomfortable with stringent localisation policies but it is still necessary to elevate the local supply chain to support the investors so that they do not feel as if the local companies do not benefit from FDIs.
Liew Chin Tong Local Advanced Technology Equipment Sub-Sector
Malaysia Latest News, Malaysia Headlines
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