Liew calls on the semiconductor sectors to offer higher wages

KUALA LUMPUR: Semiconductor industry players should offer higher wages and attractive packages to lure lost talent back home, said Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong.

He emphasized that neighboring countries offer more attractive salaries to qualified workers in the industry.

“I have always said that there is no shortage of talent in Malaysia because our talent is actually working in Singapore. So we have to strike a balance,” he said today in his speech at the closing ceremony of SEMICON Southeast Asia 2024, taking place here today. .

Liew said industry players must play their role to retain the best talent in the country for Malaysia to be able to create a strong semiconductor ecosystem and achieve the goals set out in the National Semiconductor Strategy (NSS).

He said Prime Minister Datuk Seri Anwar Ibrahim had set a clear vision and achievable actions under the NSS and that the government was keen to work on concerted action with stakeholders.

“As a nation, we will need to work closely with you, with all of our partners, to create some form of semiconductor diplomacy,” he said.

While the government is eager to boost foreign direct investment, it also aims to localize innovation and create domestic technology giants.

“We want to localize innovation as much as possible to create a strong Malaysian presence as well as regional cooperation in this sector,” he said.

In addition to attracting investments worth RM500 billion in the first phase of the plan, the country aims to establish at least 10 Malaysian design and advanced packaging companies, each with revenues ranging from RM1 billion to RM4.7 billion.

It also hopes to support at least 100 semiconductor companies with revenues approaching RM1 billion, thereby creating higher wages for Malaysian workers. – Bernama