Miti seeks Budget 2027 allocations to accelerate semiconductor industry, expand Malaysian exports

GEORGE TOWN, Sept 5 — The Investment, Trade and Industry Ministry (Miti) has proposed 11 initiatives to the Finance Ministry (MOF) for consideration in Budget 2027, set to be presented next month. Deputy Miti Minister Sim Tze Tzin emphasized the priority to boost the semiconductor industry, a high-growth, high-value sector with potential for job creation.

One of the critical areas proposed for MOF's attention is substantial government investment in the semiconductor industry. Sim, also representing Bayan Baru as a member of parliament, informed reporters after inaugurating the Madani Kita program at Sekolah Menengah Kebangsaan Sungai Nibong. The Budget 2027, themed "Malaysia Madani: Menggapai Di Langit, Mengakar di Bumi," is slated for presentation by Prime Minister and Finance Minister Anwar Ibrahim on Oct 9.

In addition to the semiconductor sector, Miti has also recommended funding to enable Malaysian companies, especially small and medium-sized enterprises, to explore new and previously underserved overseas markets. This includes seeking allocations to assist industries in upgrading their technology and capabilities, transitioning from low-value to high-value contributions.

Sim explained that the 11 initiatives encompass both new programs and enhancements proposed by Miti, with ongoing programs continuing as planned. The ministry anticipates the MOF to consider all proposals, focusing on strategic investments that will foster future economic growth.