PM rolls out New Industrial Master Plan 2030

01 Sep 2023

Prime Minister Datuk Seri Anwar Ibrahim today unveiled the country’s New Industrial Master Plan 2030 (NIMP), which aims to increase manufacturing’s value to RM587.5 billion by 2030.

Informed by four missions and supported by four key enablers, Anwar said the implementation would result in a growth of 2.3 per cent from this year onward, providing livelihood for 3.3 million people by 2030.

“What is most important is the projection that through NIMP’s interventions, the median salary in the manufacturing sector is expected to grow by 9.6 per cent, reaching RM4,510 from RM1,976, which is below the national average despite the sector’s dominant role in the national gross domestic product (GDP).

“This 128 per cent increase from 2021 is driven by the shift of the industry towards higher value-added activities and high-skilled jobs opportunities created,” said Anwar, who is also the Finance Minister, at the launching of the NIMP.

Present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz, Communications and Digital Minister Fahmi Fadzil and members of the Cabinet.

Anwar added that the NIMP requires an estimated total investment of RM95 billion through its seven years, predominantly from the private sector mobilised from private equity, capital and financial markets.

To ensure timely and effective implementation, Anwar also announced the setting-up of public-private governance.

“A Delivery Management Unit (DMU) under the Ministry of Investment, Trade and Industry (MITI) will be set up to coordinate all efforts and drive cohesive implementation across stakeholders.”

Source: NST