Chip industry told to push ‘great reset’ button

KUALA LUMPUR: Businesses must be ready to switch on the “great reset” to prepare the semiconductor industry for the new normal, says Deputy International Trade and Industry Minister Datuk Lim Ban Hong (pic).

He said this involves quickly redeploying talent, launching new business models, enhancing productivity and developing more medium- and long-term strategies.

“I believe that the synergistic efforts of the government and the industry association to leverage the unique chip innovation ecosystem will facilitate even greater research and development collaboration, and be the catalyst for critical innovations in semiconductor technology.

“The rise and return of the semiconductor industry will be on a stronger footing, and remain as Malaysia’s main economic contributor,” he said when officiating at the virtual Malaysia Semiconductor Industry Association (MSIA) National E&E Forum 2021 yesterday.

Lim said he believes Malaysia will witness a stronger economic recovery and promising growth prospects for the semiconductor industry towards year-end and beyond, although the Covid-19 pandemic has battered the country’s economy and disrupted industry supply chains.

“The government will continue to engage with the industry and governments along the supply chain to ensure minimal disruption to the supply of semiconductors, given Malaysia’s prominence as a global supplier of semiconductors,” he said.

“Any public health measures taken will be balanced with the economic impact of these measures.”

Organised by MSIA, the annual forum themed “Fueling the Semiconductor Renaissance” is aimed at bringing experts from Malaysia and overseas to discuss the challenges faced by the industry and how Malaysia can continue to grow the E&E sector and move up the value chain. — Bernama