Latest news with #MadaniEconomyFramework
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New Straits Times
30-07-2025
- Business
- New Straits Times
News@9: Today's top headlines - July 30, 2025 [WATCH]
Here are today's top stories: High-value tax dropped Finance Minister Datuk Seri Anwar Ibrahim confirmed in a written parliamentary reply that the government will not proceed with the proposed High-Value Goods Tax. The 13th Malaysia Plan, to be tabled tomorrow, follows the Madani Economy Framework — aiming to boost national income and improve the rakyat's livelihood over five years. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu says egg prices will remain steady, despite subsidies ending this Friday. Two policemen have been remanded for allegedly receiving a RM635,000 bribe to shield illegal gambling operations. That's all for News@9.
New Straits Times
30-07-2025
- Business
- New Straits Times
13MP sets course for a more inclusive and resilient economy
KUALA LUMPUR: The 13th Malaysia Plan (13MP), which will be tabled tomorrow, is guided by the Madani Economy Framework and aims to raise both national income and the rakyat's income over the next five years. Communications Minister Datuk Fahmi Fadzil said the plan seeks to build a more inclusive and resilient economy. "It is anchored in the Madani framework and follows the principle of 'raising the ceiling and raising the floor', with the goal of increasing national income while also improving the livelihoods of the people. "It focuses on several key sectors and industries, with strong emphasis on value-added activities and value creation, particularly in downstream sectors. "This is a general overview. Full details will be revealed when it is officially tabled at noon tomorrow," he told reporters after officiating the International Connectivity Conference and Expo today. Fahmi was responding to questions regarding the 13MP, which will be tabled in the Dewan Rakyat by Prime Minister Datuk Seri Anwar Ibrahim. On June 23, Anwar described the 13MP as a continuation of the reform agenda driven by the Madani government over the past two years. He said it was shaped by the aspirations of the Madani Economy, which seeks to restructure the nation's economic framework, uplift the dignity, status and well-being of the people, and foster a more just, sustainable and resilient Malaysia. Earlier in his speech, Fahmi also said that while connectivity and internet speeds continued to improve rapidly, human values must not be overlooked in the digital age. "We may harness Artificial Intelligence, but human elements such as ethics must remain a priority and form the foundation of our planning — especially in development and for the future," he said.
New Straits Times
24-06-2025
- Business
- New Straits Times
Nestle Malaysia, universities to empower youth, develop future talent
KUALA LUMPUR: Nestle (Malaysia) Bhd has teamed up with three universities as part of its continued efforts to empower youth and develop future talent. The collaboration involves Universiti Teknologi MARA (UiTM), Asia Pacific University of Technology & Innovation (APU) and Malaysia University of Science and Technology (MUST). Through the initiative, students will gain access to structured internship programmes within Nestle Malaysia's manufacturing and supply chain divisions, helping them build digital capabilities and gain practical experience to succeed in today's fast-evolving workforce. The company said the initiative is part of the global "Nestle Needs Youth" programme and aligns with national talent development goals under the 12th Malaysia Plan. It also supports the TVET Enhancement initiatives, the Graduate Employability Strategy 2021–2025, and the Madani Economy Framework. "Students will benefit from opportunities for structured internship placements across Nestlé's business functions, including supply chain, engineering, sustainability, digitalisation and quality assurance. "These placements will provide real-world exposure, equipping students with practical experience and a deeper understanding of industry expectations," Nestle Malaysia said. An initial group of 10 students has been selected, with up to 100 students expected to take part in the first phase of the programme over the next six months. Nestle Malaysia chief executive officer Juan Aranols said as the country progresses towards a more digitally advanced and inclusive economy, it is essential to equip young talent with both technical expertise and digital competencies to help them succeed. "As part of our 'Nestle Needs Youth' ongoing programs, we are pleased to join hands with these leading Malaysian Academic institutions to empower new or soon to be graduates with the right tools, experience and mindset to thrive professionally," he added.
Borneo Post
20-06-2025
- Business
- Borneo Post
Leaping ahead to continue leading with conviction
Incentivising private sector innovation, reforming procurement to favour innovative solutions, and enhancing funding mechanisms for techpreneurs will be crucial steps forward for Malaysia, says Tengku Zafrul. MALAYSIA'S remarkable 11-spot jump in the IMD World Competitiveness Ranking (WCR) – from 34th position in 2024 to 23rd in 2025 – is more than just a statistical victory. It is a powerful testament to the effective implementation of the Madani Government's economic reforms – including fiscal, industrial and social. For context, the WCR assesses the ability of economies to foster an environment that supports business competitiveness, productivity and economic growth, across four main categories: economic performance, government efficiency, business efficiency, and infrastructure. Malaysia's marked improvement in three out of four areas, especially the leap to fourth among 69 economies in economic performance, is no small feat. The Ministry of Investment, Trade and Industry (MITI) is especially pleased that our industrial reforms implemented under the New Industrial Masterplan 2030 have contributed to the jump in the rankings in terms of sub-factors such as domestic economy (+20); international trade (+11); international investment (+2); employment (+8); institutional framework (+11); business legislation (+4); productivity and efficiency (+19), and the labour market (+11). While there is still much room for improvement, this dramatic increase in the rankings is a strong validation that Malaysia's economy is on the right track and we are steadily regaining our competitive edge on the global stage. Reform engine: MITI's coordinating role This surge in competitiveness is not accidental. It is the result of intentional, coordinated, and at times, politically difficult reforms. It reflects a responsible governance approach under Prime Minister Datuk Seri Anwar Ibrahim's Madani Economy Framework, and the deft execution by the relevant economic ministries and agencies including MITI, which has led the implementation of Malaysia's revamped trade, investment, and industrial strategies. MITI's agency, the Malaysia Productivity Corporation (MPC), has led the coordination work on improving the WCR sub-factors across various ministries and agencies. At the heart of this leap is a more aggressive posture on bureaucratic reform and investment facilitation. MITI's leadership of the National Competitiveness Council (JKDSN), together with the Ministry of Finance, has driven whole-of-government efforts to streamline investment approvals, reduce regulatory burdens, ease investors' journey and modernise economic policy frameworks. Moreover, the establishment of the Special Taskforce on Agency Reform (STAR) led by Chief Secretary to the Government (KSN) – part of the wider Public Service Reform Agenda (2024-2030) and involving over 1,000 reform initiatives at federal and state levels – has helped dismantle bottlenecks that previously discouraged investors. The improvement in the international trade sub-factor – rising 11 spots to 6th globally – is also clear evidence of targeted policy outcomes under MITI's purview. This includes enhanced investment strategies by the Malaysian Investment Development Authority (MIDA), and improved trade promotion by the Malaysia External Trade Development Corporation (Matrade). Our efforts in advancing regional agreements and accelerating participation in digital economy frameworks have also contributed to improvement in the rankings. Concurrently, in a world marked by rising protectionism, geopolitical realignments, and economic fragmentation, Malaysia's steady hand in policy continuity is increasingly appreciated by global investors. This competitiveness boost is also a strong endorsement of the New Industrial Master Plan (NIMP) 2030 along with its supporting policies such as the National Semiconductor Strategy and Green Investment Strategy – all of which prioritise high-value industries such as semiconductors, green technology, and digital economy as future growth pillars. Their implementation has already created stronger linkages between industrial policy and talent development, innovation incentives and sustainability goals. Rankings, of course, are not policy goals in themselves, but they do matter. They serve as confidence benchmarks to global markets, foreign investors, and multilateral institutions. A leap of 11 positions makes Malaysia more attractive as a business destination, especially for multinationals seeking resilient and progressive emerging markets in Asia. It also reflects how our institutions – empowered with the political will, mandate and right leadership – are perfectly capable of executing coherent reform agendas for the nation. The road ahead: Maintain the momentum This milestone is cause for celebration, but not for complacency. If anything, the real work begins now. While economic performance and trade efficiency have improved, there remain areas where Malaysia still lags – particularly in innovation capability, workforce productivity, digital transformation, management practices and workforce attitudes. There may be a need to complement structural reforms with human capital upgrades and culture shifts. Global digital and green transitions will require Malaysia to not only adopt new technologies but also to nurture a new generation of skilled, future-ready workers. Here, too, MITI's role will be pivotal. The ministry will continue working closely with education and human resource agencies to ensure that industrial strategies are matched by robust talent development and pipelines. Initiatives like 'Academy in Industry' programme by MPC, K-Youth under Khazanah Nasional, and upskilling programmes under HRD Corp, must be scaled and better integrated into the national competitiveness agenda. To sustain and further elevate Malaysia's position, it is worthwhile to draw inspiration from international best practices. For instance, Denmark's emphasis on workforce adaptability and lifelong learning ensures that its economy remains resilient and responsive to technological shifts. Meanwhile, South Korea's aggressive investments in research and development (R&D) and innovation ecosystems have positioned it as a global leader in advanced manufacturing and semiconductors. Malaysia should consider incorporating these elements such as agile regulatory sandboxes, performance based innovation grants, and a national work-integrated and lifelong learning agenda, as part of its next phase of competitiveness reforms. More importantly, Malaysia must shift from a primarily input-driven model to one rooted in productivity and innovation-led growth. This means significantly boosting investments in R&D, creating stronger linkages between academia and industry, and nurturing a vibrant startup ecosystem. Malaysia should also emulate countries that rank highly in competitiveness, such as Switzerland, South Korea, and Sweden, who lead in patents, intellectual property, and cutting-edge innovation globally. We can try to achieve this in strategic sectors such as advanced electronics, artificial intelligence (AI), clean energy, and biotechnology. Incentivising private sector innovation, reforming procurement to favour innovative solutions, and enhancing funding mechanisms for techpreneurs will be crucial steps forward. Innovation must be made the 'engine' of our long-term economic resilience and prosperity. It is imperative that we maintain this trajectory. The government has set a goal for Malaysia to be among the 'Top 12 Most Competitive Economies' by 2033. This is ambitious, but now, demonstrably achievable. It must be stressed that improved economic competitiveness means increased chances of attracting high impact investments which will create more job opportunities with higher wages. This latest ranking shows that Malaysia is not just playing catch-up, but also clearly positioning itself to lead especially in today's complex geo-economic landscape. Our message to the world has been clear and consistent: Malaysia is serious about economic reforms, open for business and ready for the challenges ahead. Ultimately, Malaysia's improved competitiveness is a function of political will and determined leadership. It shows what can be achieved when a government dares to reform and focus on making tough but necessary decisions for Malaysia's future prosperity. * Tengku Zafrul is Malaysia's Investment, Trade and Industry Minister. IMD World Competitiveness Ranking Miti Tengku Zafrul
The Star
19-06-2025
- Business
- The Star
Govt reform agenda progressing consistently, not mere rhetoric, says PMO
KUALA LUMPUR: Claims that the "reformasi" agenda is not progressing are unfounded, as it is moving forward consistently, says Tunku Nashrul Abaidah. The senior press secretary to the Prime Minister said the reformasi agenda is not something to be implemented overnight or merely expressed in statements, but rather is being executed through structured actions. "Since the start of the Prime Minister's (Datuk Seri Anwar Ibrahim) administration, he has emphasised that the Madani government will always listen and stay open to constructive criticism. "This stance is reflected in action. Every criticism is viewed as an opportunity for improvement. Today's successes mirror that approach," he said. Tunku Nashrul said this during the Prime Minister's Office (PMO) daily briefing, broadcast live on both Anwar Ibrahim's and the PMO Malaysia's Facebook pages Thursday (June 19). Tunku Nashrul said that, as outlined by the Prime Minister through the Madani Economy Framework, the main goal is to elevate the nation's economic potential, enhance its capacity, and ensure the well-being of its citizens. He added that Malaysia's rise of 11 places to the 23rd rank in the IMD World Competitiveness Ranking 2025, up from 34th place last year, is due to the Madani government's sustained commitment and comprehensive implementation via a whole-of-government and whole-of-nation approach. He said this is the country's best performance since 2020, proving that economic and bureaucratic reforms are yielding results and that the Madani Economy Framework is keeping the country's economy on the right track. "This achievement also reflects the collective efforts to strengthen fiscal policy, simplify business processes, and accelerate public service delivery reforms, including over 1,000 initiatives under the Bureaucratic Red Tape Reform (RKB). "For example, the national bureaucracy perception index has jumped 22 positions, a clear signal that reforms are delivering real results, not just at the national level but also with international recognition," he said. - Bernama
