PM to launch initiative to boost integrated circuit design ecosystem

Prime Minister Anwar Ibrahim is set to launch the “Penang Silicon Design @5km+” initiative today.

This initiative, in line with the National Semiconductor Strategy (NSS), aims to drive economic growth through the development of the integrated circuit design industry in Penang.

Anwar, who is also the finance minister, will launch the GBS TechSpace as the Silicon Research and Incubation Space, a key component of the initiative, during the ceremony in Bayan Lepas at 9am.

The event will also witness the signing of a memorandum of understanding between InvestPenang, strategic partners and incentive recipients and the unveiling of new investors under the Penang Silicon Design @5km+ initiative.

The initiative seeks, among others, to make Penang a leading global hub for integrated circuit design, thus strengthening Malaysia’s position in the international semiconductor ecosystem, developing a dynamic and conducive ecosystem and supporting infrastructure, creating high-value job opportunities and attracting foreign direct investments.

The Penang’s transformation initiative encompasses three main components, namely the Integrated Circuit Design and Digital Park, the Penang Chip Design Academy, and the Silicon Research and Incubation Space.

According to InvestPenang, incentive schemes have been introduced to attract integrated design companies to establish and expand their operations in Penang, offering subsidies of up to RM2 million annually for three years to eligible local and foreign integrated design firms.

Chief Minister Chow Kon Yeow previously said that the initiative is projected to attract investments worth RM120 million over the next five years, with the state government allocating RM60 million to support the programme.

A total of 28 local and foreign firms in the integrated circuit design sector are operating in Penang.

Following the launch of Penang Silicon Design @5km+, Anwar will continue his working visit to the state, including attending the Madani Cheapest Sales at Jalan Kampung Masjid Timah, Permatang Pauh and visiting CG Global Profastex Manufacturing Sdn Bhd in Central Seberang Perai.

He will also officiate at the Penang International Halal Trade Expo at the Gravitas parking lot, Jalan Baru, Perai.

- Bernama

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