Malaysia plans Southeast Asia’s largest integrated circuit design park

KUALA LUMPUR: Malaysia plans to compose Southeast Asia’s largest built-in circuit construct park and must peaceable provide incentives including tax breaks, subsidies and visa exemption expenses to attract global tech companies and investors, the authorities talked about on Monday (Apr 22).

Malaysia is aiming to turn Kuala Lumpur real into a regional digital hub, with the goal of being among the pause 20 countries within the worldwide startup ecosystem index by 2030.

Top Minister Anwar Ibrahim talked about the proposed built-in circuit construct park became as soon as piece of Malaysia’s efforts to transfer beyond backend chip assembly and attempting out and into high-rate front-end construct work.

The nation is a indispensable participant within the semiconductor industry, accounting for about 13 per cent of worldwide attempting out and packaging.

The park, to be backed by Malaysia’s central Selangor advise, will home world-class anchor tenants and collaborate with global companies comparable to British chipmaker Arm Holdings, Anwar talked about, without offering extra information.

Malaysia’s sovereign wealth Khazanah Nasional will furthermore start a fund to put money into modern high-development Malaysian companies, with an preliminary allocation of 1 billion ringgit (US$209 million), Anwar suggested the KL20 Summit event, aimed at launching novel policies to make stronger Malaysian start-ups.

Economy Minister Rafizi Ramli talked about the authorities will provide incentives including subsidised build of job spaces, exemptions on employment passes, relocation companies and products and lower company tax charges for foreign endeavor capital companies, tech entrepreneurs and unicorns – startups reaching a US$1 billion valuation – searching out for to put money into Malaysia.

“We are searching out for to attract global unicorns to enter Malaysia, in articulate that high-expert and high-rate jobs are created, in addition to developing a pipeline of future entrepreneurs and senior leaders in tech,” Rafizi talked about.