Semiconductor industry experts brainstorm on sanctions compliance
Some of the participants at the industry engagement event to exchange insights on the practical realities of sanctions compliance.
SANCTIONS compliance has emerged as one of the top three operational challenges for semiconductor companies, according to the majority of participants at an industry engagement.
The recent event titled 'Strengthening Sanctions Compliance in the Global Semiconductor Sector' was jointly organised by Malaysia Semiconductor Industry Association (MSIA) and Deloitte.
It brought together industry leaders and trade compliance experts in Penang to explore the increasing complexity of international sanctions regimes and their implications for the Malaysian semiconductor sector.
The symposium provided a timely platform for stakeholders to exchange insights on the practical realities of sanctions compliance.
Participants highlighted key concerns around export controls, dual-use technologies, supply chain transparency, and end-use or end-user monitoring.
Key industry representatives and trade compliance specialists discussed how the Malaysian semiconductor sector could better navigate the increasingly complex environment shaped by international sanctions regimes.
Industry leaders shared first-hand insights on operational realities, barriers to legitimate trade and the need for enhanced collaboration between industry and government to ensure compliance frameworks were effective, clear and actionable.
The insights gathered will contribute to the development of practical guidance to improve industry understanding, enhance supply chain resilience and support global trade.
Deloitte partner and forensic head Jules Colborne-Baber said sanctions compliance had become an operational imperative for the semiconductor sector globally.
'Today's dialogue in Penang demonstrates the industry's commitment to managing compliance risks proactively while continuing to drive innovation and competitiveness.
'Deloitte is proud to support this important conversation, helping to ensure that compliance frameworks are both effective and workable across global supply chains.'
Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said Malaysia's semiconductor industry must be both competitive and compliant to thrive globally.
'As trade rules evolve, so must our readiness. This collaboration with Deloitte strengthens our industry's ability to meet global standards and reinforces Malaysia's position as a trusted, forward-looking technology hub,' he said.
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