Zafrul: Industrial master plan to be presented to cabinet tomorrow

The New Industrial Master Plan 2030 is set to be presented to the cabinet tomorrow for approval, said Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz

He said after being briefed on the plan at the Investment, Trade and Industry Ministry (MITI) today, Prime Minister Anwar Ibrahim, who is also the finance minister, agreed for the plan to be tabled by the end of the month.

The prime minister who was briefed on the plan by Zafrul (above) for more than half an hour, also shared his input with the team who were involved in the preparation of the plan.

“The outcome of the briefing will be presented to the cabinet tomorrow,” Zafrul said to reporters after accompanying Anwar in looking at the final preparations for the plan.

Also present were Economy Minister Rafizi Ramli, MITI Deputy Minister Liew Chin Tong, and Treasury Secretary-General Johan Mahmood Merican.

The plan is a comprehensive framework covering the mission, priority, and action plan to transform the country’s industrial sector.

According to a statement, the plan is a joint effort by various ministries and stakeholders that will improve the Malaysian industry’s position in the global value chain.

The national initiative is aimed at transforming the industrial sector to help Malaysia achieve higher economic complexity; aggressive digitisation/automation efforts; zero-carbon goals and a more equitable and inclusive economy.

“This, in turn, will enhance our industries’ operational and environmental, social and corporate governance (ESG) capacity to make Malaysia more competitive in terms of attracting investments, with positive spillover effects to the economy.

“This is especially in terms of improving the position of Malaysian small and medium enterprises (SMEs) in the global value chain and providing higher paying jobs for the people,” MITI said.

It added that the plan would catalyse more sustainable and inclusive economic growth and transform Malaysia into a high-income country. 

- Bernama