Malaysia rolled out its fourth industrial master plan last week, which aims to revitalise the country's manufacturing sector and increase its value-added turnaround to MYR 587.5 billion (USD 126.0 billion) by 2030, reports The New Straits Times. Dubbed as the New Industrial Master Plan 2030 (NIMP 2030) and costing some MYR 95 billion (USD 20.3 billion) in total investment over the period of its implementation, the seven-year-long plan is expected to provide employment for 3.3 million people through the creation of high-skilled jobs as the country advances towards higher value-added activities and improvement in automation as well as technological advancements. The MYR 587.5 billion (USD 126.0 billion) figure for the manufacturing sector would be an increase of 6.5% from what it is today.

“The NIMP 2030 is designed to drive Malaysia's trajectory as a global leader in industrial development, extend the domestic linkages to create wealth across the nation as well as strengthen its position in the global value chain,” prime minister Datuk Seri Anwar Ibrahim said. Ibrahim also outlined the four missions of the NIMP 2030 which are to advance economic complexity, tech up for a digitally vibrant nation, to strive for net-zero future and to safeguard economic security and inclusivity. In terms of employment, Ibrahim said the government projected growth at 2.3% from this year onwards.