Malaysia aims to create 1.2 million jobs and raise incomes by 2030
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Agencies
Malaysia has unveiled a RM611 billion (S$186 billion) development blueprint aimed at transitioning into a high-income economy by 2030, with a strong focus on job creation , wage growth, and labour market reforms. The 13th Malaysia Plan (13MP), tabled by Prime Minister Anwar Ibrahim, allocates RM430 billion in federal spending, alongside RM181 billion from state-linked firms and public-private partnerships.Workforce development is a central pillar. The plan aims to generate 700,000 new manufacturing jobs and 500,000 roles in the digital economy . Efforts include partnerships with Arm Holdings , AWS, Intel, and Infineon to build Malaysia's semiconductor and AI capabilities. The National AI Action Plan also targets the creation of 5,000 digital entrepreneurs and 98% 5G coverage in populated areas.To raise income levels, Malaysia plans to increase per capita gross income to RM77,200 by 2030 and raise the share of employee compensation to 40% of GDP. The minimum wage at government-linked companies has been lifted to RM3,100. Wage reform, labour rights, and tripartite collaboration are also on the agenda, with calls for stronger unions and simplified wage structures.With 95.6% of TVET graduates securing jobs within six months, skills training is also being strengthened. Inflation is expected to remain stable at 2-3%, and unemployment is forecast to drop to a full employment level by 2030.The plan's multi-sector approach, from semiconductors and AI to tourism, halal, and green energy, signals a major shift toward value-added industries, while setting ambitious targets for inclusive and sustainable workforce growth
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