WASHINGTON, DC (May 13): Malaysia has secured an investment of nearly RM2 billion through semiconductor company TF AMD Microelectronics (Penang) Sdn Bhd following the submission of the Authority’s approval letter Malaysian Investment Development Agency (MIDA) to the company Thursday May 12th.
Senior Minister and Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said the investment was for the company’s expansion plan, which is set to create 2,000 large-scale jobs. value to Malaysians.
“Indeed, this aligns with Malaysia’s focus on fostering innovation and high-impact value addition for local businesses and remaining the manufacturing hub of the region,” he tweeted after posting. attended the handover ceremony with Prime Minister Datuk Seri Ismail Sabri here on Thursday.
The endorsement letter was delivered by MIDA Managing Director, Datuk Arham Abdul Rahman, to TF AMD Executive Vice President, Chief Financial Officer and Treasurer, Datuk Devinder Kumar.
According to Azmin, TF AMD has invested around RM900 million in Malaysia to date.
“Devinder has expressed the company’s commitment to establishing collaborative opportunities with local suppliers and universities.
“This includes the goal of employing more than 2,000 additional employees, mainly from scientific and technical backgrounds, as well as developing local suppliers over the next five years in the areas of industry 4.0, automation and engineering services,” he tweeted.
Azmin said TF AMD’s growth journey with Malaysia spanned five decades and that it had invested in Malaysia in different parts of the semiconductor value chain over the years.
“TF AMD has been instrumental in building the capacity and capabilities that we are witnessing today in the Malaysian semiconductor ecosystem.
He said that with the wealth of knowledge that TF AMD brings, the strategic expansion would open up vast opportunities not only to provide highly skilled jobs, but also to create a strong talent pipeline through training programs, initiatives improvement and retraining.
“I am optimistic that this partnership will see another 50 years and look forward to being part of this growth journey with TF AMD.
“To TF AMD I say, ‘We appreciate your partnership and look forward to another 50 years in Malaysia’,” he tweeted.
Meanwhile, MIDA’s Arham said the authority is looking forward to TF AMD’s contribution to creating more high value-added jobs for Malaysians, more opportunities for small and medium enterprises to do part of the supply chain as well as opportunities to collaborate with local suppliers and universities.
“This is in line with Malaysia’s national investment aspirations, where we are targeting more high-tech, capital-intensive and knowledge-based projects in Malaysia,” he said. Bernama on the sidelines of the handover ceremony.