Malaysia is set to sign a memorandum of cooperation with Brazil in the semiconductor sector and begin negotiations with India to enhance technological and industrial collaboration between both nations, Deputy Investment, Trade, and Industry Minister Liew Chin Tong announced.

MADANI Government's Strategic Direction

The initiatives reflect the MADANI government's goal and Prime Minister Datuk Seri Anwar Ibrahim's aspiration to strengthen trade relations with developing economies, particularly BRICS member nations and the African continent. Liew made these statements in Parliament while responding to a supplementary question from Kubang Pasu MP Ku Abd Rahman Ku Ismail.

The Prime Minister will make an official visit to Africa in November to further expand Malaysia's economic engagement with the region. Liew emphasized that Malaysia maintains good relations with Bangladesh and Pakistan, presenting opportunities to enhance ties with these markets and establish relationships beyond exports through technological collaboration.

Trade Diversification Strategy

Liew outlined Malaysia's strategy to diversify its trade partners, emphasizing the importance of avoiding overdependence on traditional markets such as the United States. He acknowledged that Malaysia might need to accept that its reliance on the US as an export destination could decline one day, necessitating new markets and commercial partners. The ministry is prioritizing the strengthening of regional supply chains, especially in strategic sectors like semiconductors, to safeguard Malaysia's long-term economic resilience. This approach represents a shift from previous competitive dynamics within the region.

ASEAN Regional Cooperation Framework

Liew noted that in the past, many said Malaysia was competing with Vietnam or other countries, but now the focus is on strengthening the ecosystem and supply networks in ASEAN. Under ASEAN leadership, Malaysia is establishing a framework for semiconductor supply chains beyond ASEAN countries to reinforce both domestic and regional supply chains.

The ministry is pursuing multiple strategies to sustain Malaysia's competitiveness, including diversifying trading partners and investors through regional trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the European Free Trade Association (EFTA).

Connect with Decision-makers about the Latest Semiconductor Fabrication Plant Projects in Malaysia for business Opportunities.

Subscribe to our database on Semiconductor Fabrication Plant Projects and Tenders in Malaysia to get access to reliable and high-quality insights on upcoming, under-construction, and completed Semiconductor Fabrication Plant Projects across the world or in your desired geographical location.

Our user-friendly platform provides essential details, timely updates, key stakeholder contact information, and business opportunities tailored for engineering companies, industry professionals, investors, and government agencies.