Malaysia's 13MP to boost high-value growth, sustain trade surplus
He noted that while imports will stay high to meet development needs, Malaysia's long-standing trade surplus and current account surplus position the economy for stability. 'The trade balance is always in our favour. By developing new industries and investing in high-value sectors, we can increase output and sustain our surplus,' he said after appearing on Bernama TV's 'Ruang Bicara' programme.
Amir Hamzah stressed that 13MP aims to enhance competitiveness through structural shifts into AI, digitalisation, and green technology. 'If we stagnate, others will overtake us. Economic complexity will create high-skilled jobs, raise wages, and maintain our edge,' he added.
On trade policy, he advocated pragmatism, urging a move away from outdated strategies. 'We must adapt. Past reliance on foreign labour for low-cost production is no longer viable. By upskilling locals and adopting technology, we can reduce dependency on foreign workers,' he explained.
Despite global uncertainties, Malaysia's outlook remains positive, with the IMF revising GDP growth forecasts to 4.5%. 'This reflects confidence in our direction,' he said, highlighting 13MP's monitoring mechanisms to ensure effective execution.
Projections show Malaysia's trade surplus hitting RM116.3 billion by 2030, with exports growing at 5.8% annually from 2026. - Bernama
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