Amir said Asean must look beyond volume and towards value to grow the region’s semiconductor market, valued at over US$31 billion in 2023, Bernama reported.
“That means moving up the value chain… into front-end design, fabrication and intellectual property (IP) development so that Asean is not merely a place where innovation is assembled, but where innovation begins,” he said in his opening address at a side event held in conjunction with the 12th Asean Finance Ministers’ and Central Bank Governors’ Meeting.
Amir said no nation could achieve such success alone, pointing to Taiwan and the US as examples of how cohesive, coordinated ecosystems drive growth.
“Asean must do the same, and we must do it together,” he said.
The minister outlined Asean’s potential to play a key role in the global semiconductor industry, noting its deep industrial capabilities, growing base of skilled engineers, innovation hubs and access to dynamic consumer markets.
“Asean’s strength lies not in doing the same thing everywhere, but in doing complementary things together. With the right coordination, we can transform Asean into an integrated, agile and future-ready semiconductor powerhouse,” he said.
However, he acknowledged the challenges ahead, particularly the global realignment of supply chains driven by rising geopolitical tensions and protectionist trade policies.
Amir also addressed the impact of recent US tariff announcements, including a 24% tariff on Malaysian exports, which he sees as part of a broader global shift towards protectionism.
For Asean, he said, this shift presented an inflection point that called for clarity, coordination and collective resolve within the region rather than retreating into protectionism.
“We must diversify our supply chains, champion open regionalism through frameworks like the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and make full use of tools like the Asean Single Window to reduce friction and build trust,” he said.
On another note, Amir said Asean had produced more than 10 unicorns with a combined value exceeding US$34 billion (RM152.66 billion) since 2012.
However, he pointed out that challenges remained, such as uneven access to funding, fragmented markets and limited support for scaling.
“If semiconductors are the hardware of the future economy, then startups are its operating system driving agility, adaptability and innovation. But bold ideas don’t scale in isolation.
“To thrive, startups need the infrastructure of opportunity – clear rules, open markets, trusted networks and institutions that grow with them, not around them,” he added.