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

The Investment, Trade and Industry Ministry (Miti) has presented 11 proposals to the Malaysian Finance Ministry (MOF) for consideration in Budget 2027, set to be presented next month. Deputy Miti Minister Sim Tze Tzin emphasized the need to boost the semiconductor industry as a high-growth, high-value sector capable of generating more jobs for Malaysians.

Miti plans to request a significant allocation from the government to support this industry's development, according to Sim, who also serves as the member of parliament for Bayan Baru. The Budget 2027, themed "Malaysia Madani: Menggapai Di Langit, Mengakar di Bumi," is expected to be presented by Prime Minister and Finance Minister Anwar Ibrahim on October 9.

In addition to semiconductor industry support, Miti has proposed allocations to assist Malaysian companies, particularly small and medium-sized enterprises, in expanding into new overseas markets, particularly in Central Asia like Kazakhstan and Uzbekistan. The ministry also seeks to encourage industries to adopt more technology and enhance their capabilities, enabling them to transition from low-value to high-value activities.

Sim stated that the 11 proposals consist of new programs and enhancements proposed by Miti, while existing ongoing programs will continue to be executed. Miti hopes MOF will review all the proposals, with a focus on strategic investments that can drive future economic growth.