Malaysia aims to become one of Asia's leading economies
Malaysia’s New Industrial Plan 2030 (NIMP 2030) will be the key component supporting the country's new economic framework - known as the Madani economy - to achieve its goals over the next decade, including becoming one of Asia's leading economies, one of the 30 largest economies in the world. and among the top 12 countries in terms of global competitiveness.
The New Industrial Master Plan 2030 (NIMP 2030) costs some 95 billion RM (20.4 billion USD) in total investment over the period of its implementation (Photo: nst.com.my)
Kuala Lumpur (VNA) – Malaysia’s NewIndustrial Plan 2030 (NIMP 2030) will be the key component supporting the country's new economic framework - known as the Madani economy - to achieveits goals over the next decade, including becoming one of Asia's leadingeconomies, one of the 30 largest economies in the world. and among the top 12countries in terms of global competitiveness.
Federation of Malaysian Manufacturing (FMM) said NIMP 2♛030 provides the rightecosystem to support the economy in its t♓ransition to an industrialised nation,aiming to become a developed and high-income country.
Accordingly, the NIMP 2030 will create more jobs withhigher salaries for workers, opening up many opportunities to access newmarkets for domestic manufacturers. A comprehensive ecosystem will helpMalaysia improve its ability to attract finance from domestic and foreigninvestors, especially in the high-tech and innovation sectors. The Malaysiangovernment needs to actively coordinate with the private sector to ensure the planis implemented effectively and achieves its goals.
Thinktank MIDF has also forecasted that Malaysia'smanufacturing sector will improve. Different from previous plans, NIMP 2030 ismoved from a sector-by-sector approach to a task-based one. It said that the approach outlines actioꦬn plans withclear goals, focusing on areas horizontally rather than on individualareas vertically.
The US-Malaysian Chamber of Commerce (Amcham) alsoexpressed its desire to actively cooperate with the Malaysian government,regularly consult and promote discussions and exchanges between US companies,investors and agencies of the Malaysian government and stakeholders, towardsthe goal of sustainable investment, while ensuring the success of NIMP 2030. During the announcementceremony of NIMP 2030 on September 1, Malaysian Prime Minister Datuk SeriAnwar Ibrahim affirmed that this is a comprehensive policy framework, includingtasks, priorities and action plans to promote the manufacturing sector in the country./.
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The New Industrial Master Plan 2030 (NIMP 2030) costs some 95 billion RM (20.4 billion USD) in total investment over the period of its implementation (Photo: nst.com.my) 
