A work in progress: Reinventing the manufacturing sector for a sustainable future
The New Industrial Master Plan 2030 (NIMP 2030) aims to revolutionise Malaysia’s manufacturing sector and transform the nation into an industrialised high-income country. It focuses on national strategic direction, a reference for investors and to feature the role of government in shaping the economy. It laid out a broad plan for Malaysia to become a global leader in industrial development, generate wealth nationwide, and enhance its position in the global value chain.
Though lofty, we commend the NIMP 2030 as a comprehensive and strategic plan to drive towards prosperity and to optimise the true potential of Malaysia’s economy through uplifting its manufacturing and services sectors.
The performance of the previous Industrial Master Plan 3 (2006-2020) was broadly mixed, given the adverse effect of COVID-19 on the domestic and global economy. Nonetheless, the performance of key indicators has continued to improve until 2022 as the nation moves to the endemic phase.
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