When chairing the task force’s first meeting, he said that among the matters prioritised by his ministry and the NSSTF were the review and reform of the incentive policy.

He said this is to ensure Malaysia remains competitive in attracting foreign direct investment as well as domestic direct investment to generate growth in the E&E sector.

“Additionally, the development and production of quality talent will be prioritised to meet the dynamic demand of the industry so that Malaysia’s position as a centre of innovation and excellence remains strong.

“The task force will also identify appropriate sectors to form the basis of sustainable growth, for example, through a local vendor development programme, as we also need to open up opportunities for local companies and small and medium enterprises to receive benefits from the development of our E&E industry ecosystem,” he said in a statement today.

The NSSTF was established via the National Investment Council meeting on Jan 9, 2024, as a special platform to discuss and implement the development direction of the Malaysian semiconductor industry ecosystem, including efforts to attract strategic and quality investment.

In its first meeting, the NSSTF officially introduced 10 industry experts appointed as members of a special advisory panel to the task force, consisting of experts in several value and supply chains in the semiconductor industry in Malaysia, representing local companies as well as multinational corporations.

“The special advisory panel has the role of providing insights and feedback to the NSSTF on strategies and policies to enable Malaysia to continue to grow and improve its position in the global semiconductor industry,” it said.

Meanwhile, Collaborative Research in Engineering, Science and Technology (CREST) will function as a secretariat to coordinate knowledge-sharing and strategic planning activities via the NSSTF.