APRILASIA BUSINESS OUTLOOK8NEWSROOMMALAYSIA AIMS TO STRENGTHEN COLLABORATION WITH INDIA'S SEMICONDUCTOR SECTOREnrique Manalo, the Philippines Foreign Affairs Secretary, emphasized the swift progress of India-Philippines ties marked by both countries celebrating 75 years of diplomatic relations and furthering cooperation in key areas such as renewable energy, maritime security, cyber security, AI, and health while once again emphasizing the importance of a free and open Indo-Pacific.In a statement to ANI, Enrique Manalo reiterated the long-standing partnership between the two countries and the expansion of cooperation in a range of areas. During his visit, he also met with External Affairs Minister S. Jaishankar on the margins of the Raisina Dialogue 2025, and other key areas of collaboration were discussed regarding connectivity, maritime cooperation and strengthening India-ASEAN ties."We are celebrating the 75th anniversary of official relations between the Philippines and India, even though we have been partners for centuries... In the last 4 or 5 years, our relationship has really grown by leaps and bounds. We have expanded our cooperation in various sectors such as renewable energy, maritime cooperation, cybersecurity, AI, IT, pharmaceuticals and medical services, health security... We believe the Indo-Pacific region should be free and open and a region that contributes to peace, prosperity, and the security of our people...," Manalo said. When Liew Chin Tong, Malaysia's Deputy Minister of Investment, Trade, and Industry, visited India, he stated that the country's expanding semiconductor industry will benefit from "structured engagement" with Malaysia.Liew told Bernama on Tuesday, "We want to see how to have structured engagement with India in the semiconductor sector." He emphasized Malaysia's aim to contribute to "India's semiconductor story" by providing knowledge in crucial fields.The semiconductor market in India is expected to increase from US$38 billion in 2023 to US$109 billion by 2030, thanks to significant investments from international firms like Advanced Micro Devices (AMD), Foxconn, Micron Technology, and Applied Materials.The goal of Malaysia's National Semiconductor Strategy (NSS), which was introduced in May of last year, is to support regional technological firms. "For a long time the semiconductor sector has been treated as foreign direct investment, but we have not put emphasis on growing Malaysian innovation and capability," Liew said.In order to talk about Malaysia-India collaboration and ties in the "current global geoeconomics landscape," Liew also met with Amitabh Kant, the G20 Sherpa for India. In order to investigate trade and investment prospects between the two nations, he also met with representatives of the Federation of Indian Chambers of Commerce and Industry (FICCI) and interacted with Malaysian companies doing business in India at the High Commission of Malaysia. INDIA, PHILIPPINES STRENGTHEN REGIONAL COOPERATION IN ENERGY, SECURITY, AND AI
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