Deputy prime minister Ahmad Zahid Hamidi said it would not be difficult to meet the challenge given that Malaysia has already set up many tech parks and introduced tax incentives and human capital development initiatives.

These initiatives have made Malaysia one of the top 10 global tech hubs, he added.

“The country is already a major player in the semiconductor assembly test and packaging activities, with a market share of 13%,” he said at the opening of the Semicon Southeast Asia exhibition, a three-day tech event here.

“We are the seventh largest exporter of semiconductors in the world, with a market share of 7%. It is a trillion-dollar industry.

“Moving forward, we want to go big. It is important for us to up the game by continuing to sharpen our competitive edge, remain relevant in the value chain and strive to be ahead of our peers,” he added.

Zahid said Malaysia is making its mark in the data processing sector, with big names already re-locating their operations here to benefit from the high-end cybersecurity infrastructure.

He said that on the talent front, Malaysia is also on top of things with technical and vocational education and training (TVET) to provide industry-required experience.

Zahid said the government is also keen on expanding tech parks in Kulim, Glenmarie and Bagan Datuk, and ensuring 5G connectivity in these areas to woo investors.

On the matter of competitiveness, he said Malaysia plans to complement rather than compete with others.

A total of 280 tech companies from across the world have set up 570 booths at the Semicon Southeast Asia to display their products. The event is held at the Spice Convention Centre.