NIMP 2030 is a comprehensive policy framework that includes missions, priorities and action plans for transforming the manufacturing sector in Malaysia. – BernamapicEconomist Geoffrey Williams has described New Industrial Master Plan 2030 goals as modest and might not fully meet the expectations of those hoping for a transformation plan.
Anwar said NIMP 2030 will require a total investment of RM95 billion through its seven years, predominantly from the private sector mobilised from private equity, capital and financial markets. “This indicates an increase of 61%, derived by NIMP 2030 interventions for high-impact sectors – E&E, chemical, electric vehicles, aerospace, pharmaceuticals and advanced materials, such as minerals and metal,” he added.
“Manufacturing has a very low share of value-added going to wages. Only one-third of manufacturing income goes to employees. “The target of increasing salary, within a short time-frame by 2030, from RM2,000 to RM4,000, is a very tall order. The private sector needs to collaborate with the government to improve the remuneration for our workforce because we are now in a knowledge-based economy, and we would like all our workforce to be skill-based.
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