MATRADE Kicked-Off International Sourcing Programme (INSP), Promoting Malaysia's Strengths & Capabilities in The Semiconductor Industry
WEDNESDAY, 24 MAY 2023, PULAU PINANG: The Malaysia External Trade Development Corporation (MATRADE) International Sourcing Programme (INSP) has proven to be an effective avenue to foster business collaboration between Malaysian companies and foreign buyers. The recent INSP@SEMICON SEA in Setia SPICE, Penang is a true embodiment of this notion.
The INSP@SEMICON SEA, coordinated by MATRADE, entailed several components including Pitching Session 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 system. A total of 23 foreign companies from Taiwan, Singapore and Myanmar participated in this year 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 sales were recorded. Among the products and services sourced include machinery & equipment for the semiconductor industry, automated test equipment, precision metal components, industrial aircond system 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.
“INSP@SEMICON SEA is an initiative to strengthen Malaysian companies' participation in the global E&E supply chain. MATRADE will continue bridging Malaysian companies in the E&E sector to foreign partners through various initiatives such as this, said Madam Sharimahton Mat Saleh, MATRADE’s Deputy Chief Executive (Export Acceleration) in her remarks at the opening of the event.
Mr. Sterling Lin, Chairman of Taiwan Electronic Equipment Industry Association (TEEIA) who led a delegation of 21 Taiwanese companies said the TEEIA’s delegation consist of semiconductor equipment suppliers, original equipment manufacturer (OEM), precision parts processor and smart manufacturing solution providers. They are all important suppliers and partners of Taiwanese semiconductor manufacturing companies and international equipment giants in the United States, Netherlands, and Japan. “Therefore, through this visit and matchmaking, we hope to strengthen supply chain collaboration between Taiwan and Malaysia, and strategic partner for each other based on shared benefits”, added Mr Sterling Lin.
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.
