Matrade INSP Proves Effective In Bolstering Semiconductor Sector

The Malaysia External Trade Development Corporation (MATRADE) International Sourcing Programme (INSP) at Semicon SEA Penang has proven to be an effective avenue to foster business collaboration between Malaysian companies and foreign buyers.

The INSP@SEMICON SEA, coordinated by the trade agency entailed several components including Pitching Sessions by selected Malaysian companies in segments such as precision machining, sheet metal fabrication, parts and equipment assembly services, smart factory solutions as well as energy storage systems. A total of 23 foreign companies from Taiwan, Singapore, and Myanmar participated in this year’s edition.

Individual business meetings were also arranged between Malaysian companies and foreign counterparts for two consecutive days, involving 57 meetings. A total of RM50.2 million in sales were recorded. Among the products and services sourced include machinery & equipment for the semiconductor industry, automated test equipment, precision metal components, industrial aircon systems for semiconductor industries, and energy storage system.

Held for the eight-consecutive time since 2015, the INSP@SEMICON SEA is a high-impact initiative and a cost-effective effort aimed at assisting Malaysian manufacturers and professional service providers within the electrical & electronics industry to promote their world-class products and services globally, and tap on export opportunities around the world.

In 2022, Malaysia’s electrical & electronics (E&E) exports were valued at RM593.52 billion, which is a surplus of RM393.3 billion. This represented a 22.5% growth from 2021, and accounted for 38.3% of Malaysia’s total exports. This is higher than the target of RM495 billion worth of exports by 2025, under the 12th Malaysia Plan.  In total, semiconductor devices and electronic ICs made up 65.2% of Malaysia’s total E&E exports in 2022 and were valued at RM386.89 billion, with Singapore, USA, China, Hong Kong and Taiwan being Malaysia’s major export markets. This has helped position Malaysia as the 12th largest exporter of E&E products and the 6th largest exporter of semiconductors in the world.

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