Prime Minister Dato’ Seri Anwar Ibrahim has launched the New Industrial Master Plan 2030 (NIMP 2030) in a momentous event at the Ministry of Investment, Trade & Industry (MITI). The launch was graced by the presence of Deputy Prime Minister (I) Dato’ Seri Dr. Ahmad Zahid Hamidi and Minister of Investment, Trade, and Industry Senator Tengku Datuk Seri Utama Zafrul Aziz, along with distinguished cabinet ministers, deputy ministers, director general of public service, secretaries general of ministries, and foreign dignitaries.
Distinguished by its mission-based approach, NIMP 2030 marks the fourth edition of the Industrial Master Plan (IMP). This strategy is poised to revitalise Malaysia’s manufacturing sector by fostering comprehensive growth in alignment with the MADANI Economy’s overarching vision.
By harnessing strategies that amplify economic complexity, fortify domestic industrial bonds, and elevate Malaysia’s global value chain positioning, NIMP 2030 aims to fortify the nation’s industrial resilience for enduring and sustainable advancement.
Tengku Zafrul affirmed, “Our manufacturing sector stands as a pivotal engine propelling the next phase of our nation’s economic expansion. Thus, we require an industrial masterplan that will shape a more robust manufacturing landscape, ushering in widespread benefits for diverse stakeholders across the country.
“Our objectives encompass enhancing the competitiveness of SMEs, enabling their integration into global supply chains, and delivering higher-quality, better-paying jobs for our citizens. Through this transformative industrial journey, we remain steadfast in rejuvenating our middle-class, ensuring that essential stakeholders flourish in our prosperous future.”
NIMP 2030 sets its sights on catalysing accelerated and comprehensive growth across the nation through six paramount objectives. These goals encompass boosting economic complexity, fostering high-value job creation, expanding domestic connections, nurturing new and existing clusters, fostering inclusivity, and elevating ESG practices.
The anticipated outcomes encompass economic diversification, heightened global competitiveness via intricate exports, and elevated wages for the manufacturing workforce.
At the heart of its mission-based methodology, NIMP 2030 has identified four pivotal Missions:
- Advancing Economic Complexity
- Cultivating Digital Excellence for National Empowerment
- Driving Toward Net Zero
- Ensuring Economic Security and Inclusiveness
To propel the NIMP 2030 objectives forward, four Enablers have been established:
- Fostering a Resilient Financing Ecosystem
- Nurturing Talent Development and Attraction
- Strengthening Investor-Friendly Business Environment
- Introducing Comprehensive National Governance Framework
To fuel the initial momentum of the masterplan, nine catalytic Mission-based Projects (MBPs) have been meticulously selected. These projects will champion the transformative agenda and generate substantial spillover effects, particularly by engaging SMEs. Throughout the implementation phase, MITI will collaborate closely with the industry to identify additional MBPs.
Recognising the pivotal role of SMEs as vital contributors of local content, value in supply chains, and overall industrial progression, NIMP 2030 will empower SMEs. Initiatives will encompass enhancing their capacity to engage in high-value opportunities and adopt technology to heighten productivity while reducing dependence on low-skilled labor.
Furthermore, the plan will enhance SMEs’ ESG capacity, ensuring their continued participation in ESG-compliant MNC vendor networks and sustained access to ESG-sensitive export markets, in alignment with the nation’s sustainability goals.
The comprehensive realization of NIMP 2030 will be achieved through an inclusive nationwide approach bolstered by a robust governance structure and vigilant monitoring mechanisms.
Prime Minister Anwar will preside over the National NIMP 2030 Council, featuring representatives from various Ministries, industries, and agencies to ensure the successful implementation of the masterplan. A dedicated Delivery Management Unit (DMU) will operate under MITI to oversee NIMP 2030’s progress.
To fund the action plans throughout NIMP 2030’s implementation phase, the government has earmarked a total of RM8.2 billion. Two new funds, the NIMP Industrial Development Fund and the NIMP Strategic Co-Investment Fund, will be established, with additional incentives set to be revealed during the unveiling of Budget 2024.