KUALA LUMPUR (Reuters) – Malaysia wants to optimise its location and become a conduit for diversification of energy and supply chains this year, aiming to become a leader in the semiconductors industry and Islamic finance, its premier said on Thursday.
Addressing an economic forum, Prime Minister Anwar Ibrahim said Malaysia’s economy rebounded dramatically last year, with an influx of strategic investments, most substantially in renewable energy and artificial intelligence infrastructure.
Malaysia is fast becoming a haven in Southeast Asia and foreign investors are returning as a confluence of improving growth and stable currency sets it apart from peers grappling with political flux and economic uncertainty.
“In 2025, we want to double down on our geographical centrality, as a conduit for electricity, talent and supply chain diversification,” he said, adding inflation and the ringgit were stable and the stock market had performed well.
Malaysia received a slew of digital investments from major tech firms last year, including Alphabet (NASDAQ:GOOGL)’s Google, helping to propel its economy with growth beating market expectations in the second and third quarters and the ringgit becoming one of Asia’s top performers in 2024.
Anwar last year said Malaysia was targeting at least 500 billion ringgit ($107 billion) in investment for its semiconductor industry, as it looks to position itself as a global hub.