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NIMP 2030 to outline ideas to drive future of Malaysia’s industrial sector, says Liew

NIMP 2030 to outline ideas to drive future of Malaysia’s industrial sector, says Liew

27 Aug 2023

The New Industrial Master Plan 2030 (NIMP 2030) to be launched soon by Prime Minister Datuk Seri Anwar Ibrahim will, among others, outline ideas for driving the future of the country’s industrial sector.

Deputy Investment, Trade and industry Minister Liew Chin Tong said this will have an impact on the domestic direct investment (DDI) and foreign direct investment (FDI) in that sector.

“Next week the Prime Minister will launch NIMP 2030, and I hope the information provided and the ideas outlined regarding the industry’s future will attract both DDI and FDI,” he told a media conference after launching Infinity8 Reserve Mid Valley Southkey co-working space here today.

NIMP 2030 is a comprehensive framework covering the mission, priority and action plan to transform the country’s industrial sector.

Asked on the National Investment Council’s (MPN) decision to make DDI one of the key performance indicators for the Investment, Trade and Industry Ministry (Miti) and its agencies, Liew said this is among the Prime Minister’s focus for creating a balance and reducing the nation’s dependence on FDI.

“Actually the Prime Minister (wants) the country not only to depend on FDI, but also to balance it with DDI to expand total investment here.

“Miti welcomes it. Both Miti Minister Tengku Datuk Seri Zafrul Abdul Aziz and I agree that attention needs to be given to DDI as well,” he added.

After chairing an MPN meeting last week, Anwar said the government has set DDI as a KPI, given that strategic DDI has the potential of attracting more FDI.

“(This is) because foreign investors usually view DDI as a benchmark for domestic investors’ confidence and commitment towards government policies for strengthening the nation’s investment and business landscape,” he said in a statement.

Source: Bernama