Madani economy framework yielding results, Malaysia to launch second chip design park, says PM Anwar at LSE lecture

LONDON, Jan 17 — Prime Minister Datuk Seri Anwar Ibrahim highlighted the success of the Madani Economy Framework, which was launched in 2023, during his lecture at the London School of Economics (LSE) today.

He also announced that the government is set to launch a second chip design park to take advantage of the country’s position in the semiconductor supply chain.

Anwar, who is also the finance minister, said it is certainly no time to revel in fleeting victories.

He said Malaysia’s deepening foray into the semiconductor industry is a testament to its forward-looking outlook.

“Recently, we launched our National Semiconductor Strategy, which earmarks game-changing incentives and investment, to make Malaysia indispensable to the global semiconductor supply chain

“Already the world’s sixth largest exporter of semiconductors, Malaysia is now aiming to move further up the value chain through a targeted focus on front-end activities.

“And we are hitting the ground running. In the coming weeks, we will launch our second chip design park less than a year after our first,” he said during his lecture, entitled: The Adaptive Edge: Malaysia’s Global Strategy in an Uncertain Era”, which was attended by about 500 students.

Malaysia launched its first chip design park in Puchong, Selangor, in 2024.

In Asean, the prime minister said Malaysia is among the prime movers in the area of data centres and artificial intelligence (AI) while pushing for efforts to explore the myriad possibilities in cryptocurrency.

“We are also making efforts to do this sustainably. Malaysia is committed to moving away from existing conventional power generation, increasing renewable energy composition to 70 per cent of the total generation capacity by 2050.

“Ultimately, as an international trading nation, the crosswinds of uncertainty call for a renewed resolve to stay adaptive and ambitious without neglecting the paramount pursuit of sustainable, inclusive and just growth,” he said.

Anwar emphasised that Malaysia heeds this call as the country sets its sights on securing the nation’s place as a vital nexus of trade and investment as well as technological advancement in an unpredictable world.

Anwar said it is through this forward-looking and holistic paradigm that Malaysia came to the strategic decision to join Brics.

“It is not, as some of the pundits would like to claim, about Malaysia choosing a side. It is about a clear-sighted recognition of the geopolitical and geoeconomic changes that are happening around us and expanding our options,” he stressed. — Bernama