13MP key step towards becoming high-income nation: Acccim

New Straits Times

31-07-2025

KUALA LUMPUR: The Associated Chinese Chambers of Commerce and Industry of Malaysia (Acccim) says the 13th Malaysia Plan (13MP) is a key step towards the country's goal of becoming a high-income nation by 2030.
Acccim president Datuk Ng Yih Pyng said the complexity of global economic landscape requires the government to implement policies that are well-considered, and adaptable to shocks and disruptions, as well as having the ability to anticipate potential consequences of policies.
"These include diversifying and deepening economic structure, products and markets, securing quality investment in high growth high value sectors, investing in education and human capital, fostering greater technology and artificial intelligence (AI) adoption and spurring innovation," he said in a statement today.
Ng emphasised the need for strong coordination among various ministries and agencies in implementing the plan, as poor coordination has often been cited as a major stumbling block for businesses, especially MSMEs to move forward.
He said the proposed improvement to the research, development, commercialisation and innovation (R&D&C&I) investment model to increase high-value research and development as well as the creation and commercialisation of intellectual property (IP) through the provision of research facilities and targeted incentives are a step in the right direction.
Ng proposed a review and expand the scope of R&D incentives to allow more companies engaged in R&D and innovation activities.
This is by offering more attractive R&D credits could entice investors to establish their R&D hubs in Malaysia, and prioritising collaborations between private sector, academia and government.
He called for higher R&D expenditure to boost Malaysia's R&D intensity, aligning with global standards while actively seeking private sector partnerships to increase business participation.
He also highlighted the need to simplify the nation's R&D tax incentive scheme and overhaul the grant system.
This includes streamlining processes, simplifying applications, and removing bureaucratic hurdles that have discouraged businesses from pursuing innovation.
Ng stressed that accelerating public service reform agenda is crucial for enhancing efficiency and effectiveness of service delivery to the people and businesses, rebuilding the trust in government through reforms concentrating on working in a more open, transparent way.
He said utilising innovative technologies to heighten customer service experience, improve information sharing and lessen costs, and radically reduce costs to drive better value for money.
"Towards this end, Acccim looks forward to the implementation of various initiatives to facilitate businesses and not to frustrate them, including the ILTIZAM Act, the establishment of Special Task Forces such as STAR, and review and amend outdated laws and regulations to reflect current needs.
To turn the 13MP into timely, effective and impactful outcomes, he said effective implementation is crucial, drawing on extensive engagement across the public and private sectors.
Ng also said good governance and accountability are another important factor in the implementation of the 13MP.
This includes optimising limited resources and carefully prioritising the sequence of initiatives to ensure the desired outcomes are achieved.