13MP's success hinges on effective implementation, institutional support, says business group
Its president Datuk Ng Yih Pyng has described the 13MP as "comprehensive and strategic," and aligned with the Madani Economy framework's goals of raising economic ceilings, strengthening foundations and enhancing governance.
"The complexity of the global economic landscape requires the government to implement policies that are well-considered and adaptable to shocks and disruptions," he said in a statement on Thursday (July 31).
The 13MP projects a positive economic growth outlook of 4.5% to 5.5% annually from 2026 to 2030, supported by an investment plan of RM611bil.
With RM611bil allocated under the five-year plan, including RM430bil in government expenditure and RM181bil from GLCs, GLICs and Public-Private Partnerships (PPPs), Ng said the plan is expected to bolster investor confidence and create significant economic multiplier effects, particularly through projects in infrastructure, public transport and affordable housing.
"We welcome the plan's focus on high-value sectors and industries, emphasising the transformative potential of technology, digitalisation and AI.
"Empowering SMEs for an AI future can be a game-changer, unlocking unprecedented opportunities for growth, efficiency, and innovation," Ng said.
ACCCIM also stressed the need for strong coordination among various ministries and agencies, highlighting that poor coordination has been a significant barrier for businesses, especially micro, small and medium enterprises (MSMEs).
Ng advocated for enhanced research and development incentives to attract global investment and strengthen Malaysia's innovation landscape.
He also underscored the importance of reforming public services to rebuild trust in government, urging the use of innovative technologies to improve service delivery and cost efficiency. "Good governance and accountability are essential for the successful implementation of the 13MP," he said.
While the 13MP is a comprehensive blueprint for Malaysia's future, Ng said its success hinges on effective implementation and robust institutional support.
"The chamber looks forward to collaborative efforts across public and private sectors to ensure the plan's objectives are met."
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