Ekonomi Madani: Setting the stage for the country’s next industrial take-off

The outward-looking NIMP will seek to reverse Malaysia’s premature de-industrialisation. — Reuters

As I am helming the Ministry of Investment, Trade and Industry , I was excited to note that a large part of the measures announced are within Miti’s portfolio, and we do not even mind the large amount of work ahead!A major plank of the Ekonomi Madani is the New Industrial Master Plan 2030, which we are currently finalising for the Prime Minister to launch in August.

With a strong focus on strengthening existing linkages, and developing new industrial clusters, we have clear plans to incorporate more SMEs into higher-value supply chains, which in turn increases labour productivity and wages. Work is underway to upgrade industrial areas with “greener” infrastructure to support our net-zero target by 2050, given that the industrial sector is a key contributor to carbon emissions.

The Ekonomi Madani plan rightfully recognises that Malaysia must integrate itself more fully into Asean and seek to become one of its leading economies. In my opinion, nothing spells confidence in a country and its future better than its own domestic investors ploughing their funds back into the country. In effect, DDI is a vote for Malaysia by Malaysians.To achieve industrial transformation, high-skilled talent is key.

Source: Financial Digest (financialdigest.net)

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