Malaysia to offer incentives to attract global technology companies, Malaysia News

KUALA LUMPUR – The Malaysian government plans to build Southeast Asia’s largest integrated circuit design park, offering tax breaks, subsidies, visa waiver fees and other incentives to attract global high-tech companies and investors. The plan was announced on Monday (April 22nd).

Malaysia aims to transform Kuala Lumpur into a regional digital hub and rank among the top 20 countries in the global Startup Ecosystem Index by 2030.

Prime Minister Anwar Ibrahim said the proposed integrated circuit design park is part of Malaysia’s efforts to move beyond back-end chip assembly and testing to high-value front-end design work.

The country is a major player in the semiconductor industry, accounting for about 13% of the world’s testing and packaging.

Mr Anwar said the park, supported by the central Malaysian state of Selangor, will house world-class anchor tenants and collaborate with global companies such as British semiconductor maker Arm Holdings, but details was not disclosed.

Malaysian state billionaire Khazanah Nasional will also launch a fund to invest in innovative high-growth Malaysian companies with an initial allocation of RM1 billion (S$284 million), Anwar said at the KL20 summit event. He spoke at The aim is to come up with new policies to help Malaysia get off to a good start. UPS.

Economy Minister Rafizi Ramli said the government will provide foreign venture capital, high-tech entrepreneurs and startups valued at US$1 billion (S$1.36 billion) with subsidized office space, employment pass exemptions and relocation. It said it would provide incentives such as services and lower corporate tax rates. — I am considering investing in Malaysia.

“We want global unicorn companies to enter Malaysia, not only to develop a pipeline of future entrepreneurs and senior leaders in the technology industry, but also to create high-skilled and high-value jobs. “I think so,” Rafiji said.

Related article: Malaysia announces budget cuts, looks at subsidy cuts to reduce budget deficit

Related Article


Leave a Comment