13MP To Ensure Malaysia Stays Competitive Through Digitalisation, Value Creation
KUALA LUMPUR, Sept 3 (Bernama) --The 13th Malaysia Plan (13MP) is an important document that outlines the country’s development strategy for the next five years with the aim of ensuring Malaysia remains competitive amid an increasingly challenging global landscape.
Finance Minister II Datuk Seri Amir Hamzah Azizan said the country’s growth will be supported by a comprehensive transition towards digitalisation and the latest information technology, especially artificial intelligence, as well as the development of a social system based on the concept of a civil society under a whole-of-nation approach.
“The direction of the 13MP revolves around the three pillars of the MADANI Economy, namely raising the ceiling (of national growth), raising the floor (of living standards), and strengthening good governance.
“To raise the ceiling, the country’s economic development needs to shift to the third pivot, which is a value creation-based economy through enhanced economic diversity,” he said in winding up the debate on the 13MP motion in the Dewan Negara today.
The Economy Ministry was the final ministry to wind up the debate on the five-year national development blueprint.
Earlier, the 13MP motion was debated over four days from Aug 25 to 28, followed by the winding-up speeches by each ministry over two days starting yesterday.
Meanwhile, Amir Hamzah, who has also been entrusted with carrying out the duties and functions of the Economy Minister, said focus will be given to high-value sectors based on technology and innovation .
This transition will foster a culture of creation in line with Malaysia’s aspiration to become a leading producer of consumer products for export worldwide, featuring the shift from the concept of “Made in Malaysia” to “Made by Malaysia”.
“Priority will be given to accelerating high-growth, high-value (HGHV) industries, encompassing high-value electrical and electronics, particularly semiconductors; energy transition; and digital technology,” he said.
In addition, the agro-food and agro-commodity subsectors will continue to be strengthened to ensure food security.
Rare earth elements, the green and blue economies, as well as the carbon capture, utilisation and storage initiative will also serve as new economic growth drivers.
Focus will also be directed towards tourism, the halal industry, the orange economy (creative economy), air transport, global services and finance, trade, distribution, logistics, and the sports industry.
He said these strategies are aligned with the New Industrial Master Plan 2030, the Halal Industry Master Plan, the National Energy Transition Roadmap, and the National Semiconductor Strategy.
These efforts will contribute towards achieving Malaysia’s aspirations of becoming a high-income nation by 2030 and among the world’s top 30 largest economies, underpinned by the MADANI Economy.
Furthermore, efforts to boost the economy will be enhanced through improving structural transformation, driving inclusive and sustainable growth, furthering balanced regional development, and expanding global economic integration.
Amir Hamzah said the government is committed to providing RM611 billion in investment under the 13MP, comprising RM430 billion in government development expenditure with the support of government-linked company financing and public-private partnership mechanism.
-- BERNAMA