2024 Economic Highlights: Madani Government Drives Long-term Prosperity – PM Anwar

KUALA LUMPUR, Dec 22 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim stated that the MADANI government has implemented strategic initiatives throughout 2024 to drive long-term prosperity for the people and the nation.

In a Facebook post titled "2024 Highlights: Soaring Economy, Abundant Prosperity", Anwar, who also serves as Minister of Finance, outlined key national achievements and projects.

Among these is a digital economy investment, which saw RM254.7 billion approved from January to September 2024, expected to create 159,000 new jobs.

Notable technology companies investing in Malaysia include Microsoft (RM10.5 billion), NVIDIA and YTL (RM20 billion), Oracle (RM27 billion), AWS (RM21.3 billion), and Google (RM9.4 billion).

This investment is set to drive technology-based economic growth and position Malaysia as Southeast Asia's digital hub.

Infineon's RM30.1 billion investment in Kedah to build the world's largest silicon carbide power fabrication plant has also created 4,000 new jobs, bolstering Malaysia’s semiconductor industry.

The government is also prioritising green energy, with the launch of the Kerian Integrated Green Industrial Park (KIGIP) in Perak. This 267.09-hectare solar farm will be developed through a strategic partnership between SD Guthrie Bhd and Permodalan Nasional Bhd.

To promote socioeconomic balance, the Bumiputera Economic Transformation Plan (PuTERA35) was introduced, aiming to boost Bumiputera economic participation through targeted initiatives for greater socioeconomic justice.

The Public-Private Partnership Master Plan 2030 (Pikas 2030) aims for a Gross Domestic Product (GDP) of RM82 billion and the creation of 900,000 new jobs through public-private collaboration projects.

The MADANI government believes private sector involvement is key to strengthening economic governance.

Under the GEAR-uP programme, six government-linked investment companies have pledged RM120 billion in investment to grow the high-tech manufacturing and sustainable energy sectors, ensuring long-term economic resilience.

Meanwhile, the New Industrial Master Plan 2030 has led to a 4.7 per cent increase in the manufacturing sector's added value to GDP, amounting to RM4.2 billion, alongside the creation of 200,000 new jobs by the second quarter of 2024.

Investment in the semiconductor sector reached RM34.6 billion during the same period.

"The government will continue to work diligently in the coming years to ensure a more prosperous future, in shaa Allah (God willing)," added Anwar.

-- BERNAMA