Malaysia's semiconductor industry to benefit from Chips and Science Act

KUALA LUMPUR: Malaysia’s semiconductor industry, which takes up 13 per cent of global chip assembly and testing market share, is set to benefit from the United States CHIPS and Science Act.

An acronym for Creating Helpful Incentives to Produce Semiconductors and Science Act, the Act commits over US$280 billion (US$1=RM4.44) in federal funding which includes US$52.7 billion in subsidies to support semiconductor production and research in the US.