Malaysia is unfazed by China, U.S. semiconductor competition, minister says

KUALA LUMPUR, MALAYSIA – 2018/01/24: A foreigner is seen with a Malaysia flag as a background. Kuala Lumpur or commonly known as KL is the national capital for Malaysia and is the fastest growing metropolitan regions in South-East Asia. The urban city is also well known to the world for tourism and shopping. Kuala Lumpur has a great public transportation for people travel around the city. (Photo by Faris Hadziq/SOPA Images/LightRocket via Getty Images)

Faris Hadziq | Sopa Images | Lightrocket | Getty Images

Malaysia isn’t fazed about competition from China or the U.S. as it pushes into higher-end semiconductor manufacturing, according to the country’s second finance minister.

“The semiconductor space is now in the upcycle — and Malaysia will be a beneficiary of that,” Amir Hamzah Azizan told CNBC’s Karen Tso at the IMF spring meetings in Washington on Wednesday.

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