KUALA LUMPUR: The 13th Malaysia Plan (13MP) outlines the country’s development strategy for the next five years to maintain competitiveness in a challenging global landscape.
Finance Minister II Datuk Seri Amir Hamzah Azizan stated that national growth will be supported by comprehensive digitalisation and advanced information technology including artificial intelligence.
He emphasised that the 13MP revolves around three pillars of the MADANI Economy framework during his winding-up speech in the Dewan Negara.
The country’s economic development will shift toward a value creation-based economy through enhanced economic diversity as the third pivot.
Focus will be given to high-value sectors based on technology and innovation to foster a culture of creation.
This transition supports Malaysia’s aspiration to become a leading producer of consumer products for export worldwide.
Priority will be given to accelerating high-growth, high-value industries including semiconductors, energy transition, and digital technology.
The agro-food and agro-commodity subsectors will continue to be strengthened to ensure national food security.
New economic growth drivers will include rare earth elements, green and blue economies, and carbon capture initiatives.
Additional focus areas encompass tourism, the halal industry, creative economy, and various service sectors.
These strategies align with the New Industrial Master Plan 2030 and other national development roadmaps.
The efforts aim to achieve Malaysia’s aspirations of becoming a high-income nation by 2030.
Malaysia targets ranking among the world’s top 30 largest economies through these comprehensive measures.
Economic boosting efforts will include improving structural transformation and driving inclusive sustainable growth.
The government has committed RM611 billion in investment under the 13MP implementation framework.
This comprises RM430 billion in government development expenditure with additional support mechanisms.
The comprehensive approach represents Malaysia’s strategic response to global economic challenges. – Bernama