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 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.
Federation of Malaysian Manufacturing (FMM) said NIMP 2030 provides the right ecosystem to support the economy in its transition to an industrialised nation, aiming to become a developed and high-income country.
Accordingly, the NIMP 2030 will create more jobs with higher salaries for workers, opening up many opportunities to access new markets for domestic manufacturers. A comprehensive ecosystem will help Malaysia improve its ability to attract finance from domestic and foreign investors, especially in the high-tech and innovation sectors. The Malaysian government needs to actively coordinate with the private sector to ensure the plan is implemented effectively and achieves its goals.
Thinktank MIDF has also forecasted that Malaysia's manufacturing sector will improve. Different from previous plans, NIMP 2030 is moved from a sector-by-sector approach to a task-based one. It said that the approach outlines action plans with clear goals, focusing on areas horizontally rather than on individual areas vertically.
The US-Malaysian Chamber of Commerce (Amcham) also expressed 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, towards the goal of sustainable investment, while ensuring the success of NIMP 2030.
During the announcement ceremony of NIMP 2030 on September 1, Malaysian Prime Minister Datuk Seri Anwar Ibrahim affirmed that this is a comprehensive policy framework, including tasks, priorities and action plans to promote the manufacturing sector in the country./.
