WHILE the electrical and electronics (E&E) sector is expected to enjoy impressive growth in the next two to three years, a deglobalisation movement may take place in this region moving forward.
Chief Minister Chow Kon Yeow said each country might look at protecting its own country first, before considering going global.
“We may encounter a reverse trend of globalisation moving forward.
“The world is at a crossroads today. Some industries faced turbulence in the past two to three years while others grabbed the opportunities.
“The E&E sector has been doing very well for the past two years and I believe, in the next two to three years, it will continue to have impressive growth.
“The ASEAN semiconductor market size is projected to grow from US$27 billion in 2021 to US$41 billion in 2028, with a compound annual growth rate (CAGR) of 6.1% during the 2021 to 2028 period,” Chow spoke at the industry dialogue after launching the Industriemeister-Mechatronics programme at Penang Skills Development Centre (PSDC) today.