The government has identified several high potential industries as the drivers and sources of growth under the 12th Malaysia Plan (12MP), said Prime Minister Muhyiddin Yassin.
The industries include aerospace; a more creative and sophisticated electrical and electronics sector; biomass and smart farming.
“The government will also implement strategies to improve productivity to accelerate the shift to high value-added and high-technology industries,” he said in his One-Year Malaysia Prihatin Keynote Address today.
In planning the country’s long-term development and economic growth, Muhyiddin said the government is committed towards positioning the economy on a stronger and more competitive path.
He said the country's five-year socio-economic development plan is important to set a clear strategic direction and place the country's economy on a stronger foundation.
Among the government's priorities in the 12MP is the provision of a conducive ecosystem for the micro, small and medium enterprises, as well as to boost quality investments by focusing on high-tech activities.
It also includes accelerating developments in Sabah, Sarawak and other lesser-developed states by enhancing the provision of infrastructure and basic facilities.
The 12MP is aimed at reinvigorating Malaysia’s economic growth, aside from ensuring a more equitable sharing of wealth without neglecting environmental sustainability.
- Bernama
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