KUALA LUMPUR – Malaysia’s trade ministry said on Friday the government will allocate 8.2 billion ringgit ($1.77 billion) to fund a national industrial masterplan to be implemented by 2030.
The plan aims to develop a more robust manufacturing sector, by boosting the competitiveness of small and medium-sized businesses and through the creation of high-skilled jobs, the ministry said in a statement.
Malaysia’s Prime Minister Anwar Ibrahim said the plan would require an estimated total investment of 95 billion ringgit, predominantly from the private sector.
“This creation of high-value job opportunities is crucial to uplift and expand the middle-class society,” Anwar said at the launch of the masterplan.
The plan aims to increase the manufacturing sector’s value by 6.5 percent in seven years and projects employment growth in the sector at 2.3 percent from 2023, Anwar said.
($1 = 4.6430 ringgit)
Read Next
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
For feedback, complaints, or inquiries, contact us.
Denial of responsibility! SamacharCentrl is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.