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New Industrial Masterplan (NIMP) 2030 To Catalyse Malaysia’s Next Economic Take-off

The New Industrial Master Plan 2030 (NIMP 2030) was launched by the Prime Minister, YAB Dato’ Seri Anwar Ibrahim, at the Ministry of Investment, Trade & Industry (MITI) today. The Deputy Prime Minister (I), YAB Dato’ Seri Dr. Ahmad Zahid Hamidi and Minister of Investment, Trade, and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Aziz were also present at the launch, along with several other Cabinet Ministers, Deputy Ministers, Director General of Public Service, Secretaries General of Ministries and Foreign Dignitaries.

The NIMP 2030 is the fourth edition of the Industrial Master Plan (IMP). Its markedly different mission-based approach compared to earlier IMPs is set to transform Malaysia’s manufacturing sector by ensuring broad-based growth, in alignment with the MADANI Economy’s vision and objectives. Through strategies such as increasing economic complexity, strengthening domestic industrial linkages, and positioning Malaysian industries higher in the global value chain, NIMP 2030 targets to build Malaysia’s industrial capacity and resilience for long-term, sustainable growth.

Minister of Investment, Trade and Industry, YB Senator Tengku Datuk Seri Utama Zafrul Aziz said, “The manufacturing sector serves as a key engine of growth to drive the nation’s next phase of economic expansion. As such, we need an industrial masterplan that would shape a more robust manufacturing sector to generate broad-based benefits for multiple stakeholders in the country. Our goals include enhancing SMEs’ competitiveness to enable them to integrate into global supply chains. Equally important is the Rakyat, whom we aim to provide with higher-paying and better-quality jobs. Through this industrial transformation, we are committed to rebuild our middle-class, ensuring that key stakeholders can also thrive in our prosperous future.”

NIMP 2030 aims to deliver an accelerated and holistic broad-based growth for the nation through six key goals, i.e., to increase economic complexity, create high-value job opportunities, extend domestic linkages, develop new and existing clusters, improve inclusivity, and enhance ESG practices. Target impactful outcomes include diversification of the economy, improved global competitiveness through more complex products for export, and higher wages for manufacturing sector employees.

Through its Mission-based Approach, the NIMP 2030 has identified four key Missions: Mission 1: Advance economic complexity

Mission 2: Tech up for a digitally vibrant nation

Mission 3: Push for Net Zero

Mission 4: Safeguard economic security and inclusivity

These Missions will be supported by four Enablers to achieve the NIMP 2030 Goals: Enabler 1: Mobilise financing ecosystem

Enabler 2: Foster talent development and attraction

Enabler 3: Strengthen best-in-class investor journey for ease of doing business Enabler 4: Introduce whole-of-nation governance framework

Nine Mission-based Projects (MBPs) have been identified as catalytic projects to create the initial momentum of the masterplan’s implementation. The MBP champions were rigorously selected to ensure they have the stature to rally the whole industry, and the necessary capacity to scale up to create impactful spillovers, particularly via the inclusion of SMEs. MITI

will work closely with the industry to identify more MBPs throughout the NIMP’s

implementation phase.

SMEs have a significant role, acting as key suppliers of local content, providing value in supply chains and contributing to overall industrial development. The NIMP 2030 will develop SMEs by, among others, building their capacity to participate in higher value-added opportunities, as well as technology adoption to increase productivity and reduce reliance on low-skilled labour. The NIMP 2030 will also build SMEs’ ESG capacity to help secure their continued participation in ESG-compliant MNC vendor ecosystems, and continued access to ESG-sensitive export markets, while also contributing towards the country’s sustainability goals.

The NIMP 2030 will be implemented through a whole-of-nation approach with a comprehensive governance structure and monitoring mechanism. The Prime Minister himself will be chairing the National NIMP 2030 Council, comprising representatives from other Ministries, the industry and other agencies, to ensure the masterplan’s successful nationwide implementation. A dedicated Delivery Management Unit (DMU) will be established in MITI to monitor the progress of NIMP 2030.

The Government will allocate a total of RM8.2 billion to fund the NIMP 2030 action plans throughout its implementation period. To that end, two (2) new funds will be set up, namely the NIMP Industrial Development Fund and the NIMP Strategic Co-Investment Fund. Other incentives will be announced during the tabling of Budget 2024.

Ministry of Investment, Trade & Industry

1 September 2023

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