"Based on our recent engagements with both domestic and foreign business communities, there are businesses who are eyeing on relocating their businesses into Malaysia," the Ministry of International Trade and Industry (MITI) told Reuters in an email.
KUALA LUMPUR: Malaysia said on Friday it had a pipeline of investment projects worth about US$13 billion and that many local and foreign electrical and electronics (E&E) firms were looking to relocate their businesses to the country to diversify production.
Its five-decade-old E&E industry accounts for 10% of the global back-end semiconductor output, and the government said it was engaging high-technology businesses looking for alternative production sites after the COVID-19 pandemic and U.S.-China trade war exposed their heavy dependence on China.
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