KUALA LUMPUR: The government has identified several high potential industries as the drivers and sources of growth under the 12th Malaysia Plan (12MP), said Prime Minister Tan Sri 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.
Muhyiddin said in planning the country’s long-term development and economic growth, 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