By Harith A.R.
Edited by Fasihah Zulkifli
KUALA LUMPUR, 11 August 2023: Malaysia received a big announcement from Infineon, a semiconductor company, about its billions of ringgit investment in the country.
Infineon is a large German-based firm that specialises in the construction or production of semiconductors, in which Malaysia is a strategic place to invest. Through the effort made by the government, our country has managed to secure a significant amount of investment that can boost the local economy.
The firm will invest up to 5 billion euros, which is around RM24.9 billion over the next five years, to build the world's largest 200mm silicon carbide (SiC) power fabrication (power fab) plant in Malaysia.
A statement from the minister of The Ministry of Investment, Trade, and Industry (MITI), Tengku Zafrul Aziz, through his TikTok account, said that the investment was decided as Infineon sees big potential in Malaysia to be a leading hub in the semiconductor sector.
"The investment will begin this year as the company decides that the political situation in Malaysia has already stabilised, and it is the right time to make a move," he added.
Economist Dr. Shankaran from the Malaysia Institute of Economic Research explains that Infineon has been benefitting from Malaysia's excellent ecosystem, which encourages its decision to maintain its presence and further expand beyond that after seeing positive growth in the earlier five years of investment.
This significant investment will create a plethora of job employment and help boost the export rates, enhancing local economic performance.***
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