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Reforming semiconductor industry, revitalising global services among 13MP focus areas

KUALA LUMPUR: Efforts to reform the local semiconductor industry and revitalise the high-value global services sector are among the main focuses of the 13th Malaysia Plan (13MP), as part of broader measures to strengthen the country's economic diversification. According to the 13MP 2026-2030 main document, themed "Re-imagining Development," and launched today, these initiatives align with the government's commitment to boost the growth of High-Growth High-Value (HGHV) industries and high-impact strategic sectors. The implementation of these initiatives will be based on a technology- and intellectual property-focused investment model, involving the active participation of government-linked investment companies (GLICs), which will prioritise local companies as strategic partners, along with an acquisition mechanism for high-tech firms. "This initiative is expected to produce local champions of global standards in integrated circuit design, boost the production capacity of high-value 'Made by Malaysia' products, and increase the number of highly skilled talents," the document stated. In the area of digital economic development, the government emphasises the need to strengthen a comprehensive ecosystem encompassing policy implementation, operational efficiency, and digital infrastructure. Technologies such as digital twins and hyper-personalised platforms are expected to be leveraged to better align industry demand with local technology solutions. "The ecosystem to position Malaysia as a regional producer of digital technology, particularly in the field of artificial intelligence (AI), will be strengthened through data-related initiatives, testing and matching platforms, and improved cybersecurity capabilities," the document explained. Under the green economy agenda, Malaysia has set a target to reduce greenhouse gas (GHG) emission intensity by 45 per cent by 2030. Key initiatives will include the development of carbon markets, the expansion of renewable energy, and broader access to green financing - all aimed at supporting low-carbon growth. "Malaysia is committed to implementing a pragmatic and targeted approach to embed sustainability within the mainstream economic model,' the document noted. Among the 10 priorities under the Economic Diversification agenda outlined in the document are strengthening the green and blue economy, increasing national productivity, scaling up micro, small and medium enterprises, empowering the third sector, developing high-impact industries, ensuring food security, mitigating floods, improving public transportation, and strengthening the research, development, commercialisation, and innovation ecosystem. - Bernama