Amir Hamzah: 13MP To Drive High-value Economic Growth, Sustain Trade Surplus
By Nurunnasihah Ahmad Rashid
KUALA LUMPUR, August 1 (Bernama) -- The government anticipates that Malaysia’s trade surplus will remain stable under the 13th Malaysia Plan (13MP), supported by the growth of high-value industries and a transition towards increased economic complexity, said Datuk Seri Amir Hamzah Azizan.
The Finance Minister II said that while imports are expected to stay elevated, in line with the country’s economic development needs, Malaysia has long recorded a current account surplus and positive trade balance.
“The trade balance is always in our favour. What is important is that by developing new industries and investing in high-value sectors, we can raise value-added output and sustain our existing surplus,” he said after appearing on Bernama TV’s “Ruang Bicara” programme, titled "13MP: Remapping Development”, aired on Thursday.
Amir Hamzah emphasised that 13MP is designed to boost national competitiveness through structural economic transformation, shifting towards more complex and high-impact sectors, including artificial intelligence (AI), digitalisation, and green technology.
“If we do not move forward, others will overtake us, and that is where the problem lies. That is why we need to enhance economic complexity to generate high-skilled jobs, raise wages, and maintain competitiveness,” he emphasised.
On trade policy, Amir Hamzah said that the country needs a more pragmatic approach and a willingness to shift away from legacy policies to align with current global conditions.
“We have to be practical. What may have worked before may not be relevant now. For instance, we used to rely heavily on foreign labour because we competed on labour-intensive input, but now we can move forward by increasing economic complexity.
“This will create more job opportunities, encourage the adoption of technology and digitalisation, and better leverage our domestic workforce. With improvements in education and training systems, our dependence on foreign labour can also be reduced,” he explained.
Amir Hamzah noted that Malaysia’s economic outlook remains positive despite global uncertainties, supported by strong domestic institutional investment and a resilient economic structure.
“Even the IMF has revised Malaysia’s GDP growth forecast to 4.5 per cent. That reflects confidence in the country’s economic direction,” he said, adding that the 13MP’s holistic approach would also be reinforced by close monitoring and immediate intervention mechanisms to ensure effective implementation.
Amir Hamzah called on all stakeholders to support the transformation laid out in 13MP in the interest of national prosperity and inclusive progress.
According to projections under 13MP, Malaysia’s trade balance is expected to remain in surplus, reaching RM116.3 billion by 2030.
The current account surplus is anticipated to stand at 2.2 per cent of gross national income, while gross exports are projected to grow at an average annual rate of 5.8 per cent over the five years starting in 2026.
-- BERNAMA