WIDELY recognised as Malaysia’s ‘golden goose’, the semiconductor industry remains a cornerstone of the nation’s economic growth and global competitiveness. This year has been particularly remarkable, marked by achievements that underscore the sector’s expanding strength and strategic importance.
A key highlight of 2024 is the launch of the National Semiconductor Strategy (NSS) in May by Prime Minister Datuk Seri Anwar Ibrahim. The NSS sets a robust foundation for the industry’s future, aiming to position Malaysia as a global leader in this vital sector.
Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai highlighted the industry’s impressive performance this year, describing the numbers as a testament to its resilience and growth.
“Investment approvals for the electrical and electronics (E&E) sector in the first half of 2024 soared to RM36.9 billion, nearly tripling the RM13 billion recorded during the same period in 2023,” Siew Hai said during his speech at the 2nd Sustainability and ESG Conference 2024 at Setia SPICE Convention Centre today.
He also mentioned Malaysia’s export achievements.
“From January to October, E&E exports reached RM491 billion, accounting for 40% of the nation’s total exports and showing a 1.5% increase compared to the same period last year.
“There is cautious optimism that these exports will surpass RM600 billion by year-end, setting a new record and reaffirming the industry’s vital role in the economy,” he said.
The conference, themed ‘Circular Economy Towards Sustainable Development’, placed a strong emphasis on sustainability and the adoption of Environmental, Social, and Governance (ESG) practices.
Siew Hai underscored the growing necessity of these practices, stating that they are no longer optional in addressing global challenges and ensuring responsible industry growth.
“By integrating energy-efficient designs, reducing waste, and maintaining ethical supply chains, semiconductor companies can better meet the rising expectations of customers, regulators, and investors.
“Focusing on sustainability fosters a responsible supply chain, reduces reliance on critical resources, and aligns with global goals. Prioritising ESG strengthens long-term competitiveness and resilience in an ever-changing global landscape,” Siew Hai said.
Penang Tourism and Creative Economy (Petace) Committee chairman Wong Hon Wai also spoke at the event, sharing Penang’s commitment to sustainability under its Penang2030 vision.
“Our focus is not just on fostering social and economic development but ensuring these efforts are sustainable, environmentally conscious, and resilient to challenges like climate change,” he said.
Hon Wai highlighted the Penang Green Agenda 2030, launched in 2021, as a roadmap for building a sustainable and future-proof community.
“Through the Penang Green Agenda, we address critical environmental challenges and develop strategies that safeguard our resources while promoting sustainable growth,” he added, reaffirming the state’s dedication to integrating environmental consciousness into its broader development goals.
Organised by MSIA, the two-day conference ends tomorrow.
Also present were MSIA sustainability committee chairman Datuk P’ng Soo Hong; Malaysia Productivity Corporation deputy director general Dr Mohamad Norjayadi Tamam; Lam Manufacturing Malaysia and Lam Research managing director Lee Eng Keat; Solarvest project director and general manager Chew Chun Wei; Jabil Penang managing director Tan Siew Jin; and Masverse chief executive officer Chew Kian Kok.
Story by Christopher Tan
Pix by Adleena Rahayu Ahmad Radzi