FMM calls for clear guidance, support measures following proposed US tariff on semiconductors

AI Summary

The Federation of Malaysian Manufacturers (FMM) stresses the need for clear guidance and targeted support to maintain investor confidence in Malaysia's semiconductor industry amidst new US policies. FMM urges the government to strengthen domestic and outward investment strategies, accelerate the National Semiconductor Strategy, and provide dedicated support for companies expanding internationally. Concerns were raised about the US imposing 100% tariffs on imported semiconductor chips, impacting Malaysian-based companies, especially US firms exporting to the US. FMM emphasizes the complexity and capital-intensive nature of establishing overseas operations, requiring sustained support.