Enhanced Lives under New Industrial Master Plan 2030
KUALA LUMPUR, September 2 – Datuk Seri Anwar Ibrahim has unveiled an ambitious blueprint for Malaysia’s future prosperity. Introducing the New Industrial Master Plan 2030 (NIMP 2030), which serves as a cornerstone of the Ekonomi Madani initiative, his primary goal is to reshape the nation’s economic priorities for the benefit of its citizens.
The NIMP 2030 carries with it a multitude of promises, but at its core lies a commitment to providing decent employment opportunities and establishing a framework for equitable wealth distribution, all aimed at fostering a more prosperous and just society.
Paving the Way for High-Quality Job Opportunities
Our esteemed Prime Minister stressed the importance of creating high-value job positions as a crucial step in strengthening the middle-class population. During the recent launch of NIMP 2030, he highlighted the need to acknowledge and address the rapidly evolving global mega trends that are reshaping our world.
Profound shifts are underway in areas such as Industry 4.0 technologies, climate change adaptation, demographic changes, and the transformation of global value chains. Consequently, the nature of employment is undergoing an unprecedented transformation.
A Transformative Vision Guiding the Way
NIMP 2030 is designed as a visionary guide, fueled by a mission-driven approach that aims not only to revitalize the manufacturing sector but also to mobilize the entire nation. The overarching goal is to ignite an industrial revolution that aligns with Malaysia’s grand vision.
This transformation of our industrial strategy necessitates a realignment of skills, a fundamental pillar for nurturing future capabilities. Anwar, who also serves as the Finance Minister, emphasized that this realignment is a central focus of NIMP 2030.
Cultivating Industry-Appropriate Skills for Sustainable Progress
An innovative wage system is envisioned to enhance skills and elevate career prospects in harmony with the ever-changing demands of industries. The Prime Minister is optimistic about fostering public-private partnerships to enhance Technical and Vocational Education and Training (TVET) and Science, Technology, Engineering, and Mathematics (STEM) programs.
NIMP 2030: A Game-Changer for the Economy
Anwar is confident that the strategies outlined in NIMP 2030 will lead to significant and meaningful changes in the national economy. In terms of employment, he anticipates a bright future, with a projected growth rate of 2.3% by 2023, which is expected to provide livelihoods for 3.3 million people by 2030.
Increasing Employment and Wages: A Win-Win Scenario
According to Anwar, the upward trajectory in employment will align with the creation of high-skilled jobs, driven by Malaysia’s expanding higher value-added activities and advancements in automation and technology.
NIMP is poised to overhaul median salaries in the manufacturing sector, with a substantial increase of 9.6% expected to raise them from RM1,976 to RM4,510. This remarkable projected rise of 128% from 2021 is largely attributed to a shift towards higher value-added activities and a surge in high-skilled job opportunities, he added.