Malaysia gov’t to launch three policies to deal with global challenges

Malaysia' Prime Minister Anwar Ibrahim said the policies would include the National Industrial Plan, to be launched in August, the Mid-Term Review of the 12th Malaysia Plan at the end of September and the second Madani Budget in October.  (Photo:Bernama)

Kuala Lumpur (VNA) – Malaysia's government is launching several policies to deal with the world’s challenges, the country’s Prime Minister Anwar Ibrahim has said.

He said the policies will include the National Industrial Plan, to be launched in August, the Mid-Term Review of the 12th Malaysia Plan at the end of September, and the second Madani Budget in October.

These policies were needed to deal with the challenges facing the world, namely the power struggle among major countries, wars; global economic slowdown; and the climate and environmental crisis.

Besides economic recovery efforts, the leader said the government is also focusing on addressing such issues as the rising cost of living and an increase in the price of goods and food security.

Malaysia will maintain its stance and the country’s interests at international forums, particularly in issues of the country’s sovereignty, humanitarianism, security and disaster management.

PM Ibrahim appreciated the great contributions of Malaysian King Al-Mustafa Billah Shah in the diplomatic and investment fields.

Malaysia’s Gross Domestic Product (GDP) grew 5.6% involving a total investment of 71.4 billion RM (15.5 billion USD) during the first quarter of 2023. It is attributed to the wise planning by the cabinet, civil servants and the private sector.

The Madani Malaysia 2023 Budget has been approved by the National Assembly in 2022 and the Malaysian Government is determined to implement the agreed upon three pillars and 12 spearheads, especially ensuring food security, developing the digital economy, promoting the role of small and medium enterprises and reducing the poverty rate. The government will make efforts to ensure the development of the country in the coming time, said the PM./.