Latest news with #RM181
Time of India
01-08-2025
- Business
- Time of India
Malaysia aims to create 1.2 million jobs and raise incomes by 2030
Advt By , 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 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 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 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 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
The Sun
31-07-2025
- Business
- The Sun
13th Malaysia Plan 2026-2030 sets bold, ambitious path for economy
KUALA LUMPUR: Malaysia is setting the stage for a high-value, inclusive and technologically advanced economy through the 13th Malaysia Plan (13MP). Prime Minister Datuk Seri Anwar Ibrahim said Malaysia, with an ambitious growth forecast of 4.5% to 5.5% annually between 2026 and 2030, is laying down a multi-pronged blueprint to reposition the country as a regional economic powerhouse with a global voice. 'We must be brave to change course to ensure our economy remains strong so that our people do not bear the cost of inaction,' he said when presenting the 13MP in the Dewan Rakyat today. He emphasised the urgency and determination embedded in 13MP, whose theme, Melakar Semula Pembangunan Demi Mengangkat Martabat Rakyat, underscores its people-centric and future-ready focus. Economically, 13MP outlines targeted investments totalling RM611 billion, with RM430 billion allocated by the government itself. Over half of this, RM227 billion, will be allocated to the economic sector, while the remainder will be distributed among social development, security and governance. Private sector participation through government-linked companies, government-linked investment companies and public-private partnerships is expected to contribute RM181 billion. 'We are not just aspiring for material achievements, but also united in diversity and grounded in a strong identity,' Anwar said, signalling a development model that blends fiscal prudence, innovation and human-centred growth. Among key economic indicators, he added, total approved investments between 2021 and 2024 increased to RM1.29 trillion, growing at an annual rate of 23.1%. In 2024 alone, Malaysia achieved a record-breaking RM384 billion in investments. Inflation remained contained at 1.1% as of June 2025, while the fiscal deficit narrowed to 4.1% of gross domestic product (GDP) in 2024, down from 6.2% in 2020. The government aims to reduce this further to below 3% by 2030, while maintaining public debt at under 60% of GDP. The 13MP aims to steer Malaysia away from dependence on raw commodity exports toward a diversified, value-added economy. The semiconductor sector, where Malaysia is already the sixth-largest global exporter, is earmarked for a major leap through a flagship high value-high technology project, targeting RM1 trillion in electrical and electronic exports by 2030. 'We will not settle with being a production hub – we aim to lead in semiconductor design and innovation,' Anwar said. Backing this is a US$250 million (RM1.06 billion) strategic collaboration with ARM Holdings, which will bolster Malaysia's intellectual property capabilities and transition it up the global value chain. Synergies with tech giants like Intel, Amazon Web Services and Infineon Technologies are set to deepen along the semiconductor ecosystem. Further, the 13MP shows that technology and digitalisation are central to the new economic thrust. Through the National AI Action Plan 2030 and digital infrastructure investments, Malaysia aims to become the leader in artificial intelligence in Southeast Asia. A nationwide rollout of 5G with 98% coverage, the creation of 5,000 digital entrepreneurs, and the digitalisation of 95% of federal services by 2030 underscore this ambition. The green economy is also poised for expansion, supported by the National Energy Transition Roadmap. Malaysia is targeting to increase the share of renewable energy from 29% to 35% by 2030. These initiatives include battery energy storage, floating solar-hydro hybrids in Kenyir and a hydrogen hub in Sarawak. Anwar said the government is considering nuclear energy as part of its clean energy mix. 'Malaysia must rise as an Asian economy known not just for growth, but for value creation and sustainability,' he said. These efforts dovetail with carbon trading strategies, the National Carbon Market Policy and investments in waste-to-energy infrastructure. The 13MP charts an aggressive push in halal exports too, aiming to hit RM80 billion and raise the sector's GDP contribution to 11%. This will be driven by the newly established Halal Commission and the development of halal industrial parks in Malacca, Perak and Kelantan. Complementing industry-focused growth is the expansion of Malaysia's tourism sector. With 2026 declared as Visit Malaysia Year, the goal is for tourism to contribute 16% of GDP. Strategic tourism investment zones in Johor, Malacca, Negeri Sembilan and Sarawak are planned to boost cultural, heritage and eco-tourism products. The creative economy is also receiving a lift, with the digital creative industry generating RM6.3 billion in revenue and RM850 million in exports. Flagship titles like Mechamato, Upin & Ipin, and Giga Bash showcase the potential of Malaysian talent in the global entertainment industry. 'The aim is not only to showcase our stories, but to make them commercially successful across borders,' said Anwar. To meet future workforce demands, 13MP plans to create 1.2 million new jobs – 700,000 in manufacturing and 500,000 in the digital economy. Human capital will be developed through restructured TVET (technical and vocational education and training) programmes focusing on high-growth, high-value sectors, supported by government-linked companies and training institutions. For small and medium-sized enterprises, the government aims to achieve a 50% GDP contribution by 2030 through capacity building, digitalisation and access to strategic financing. Measures include strategic investment funds, working capital support and capability enhancement schemes. With Malaysia assuming the Asean chairmanship this year, cross-border infrastructure projects such as the Johor-Singapore Special Economic Zone, the Asean Power Grid, and the Johor-Singapore Rapid Transit System Link are aligned with broader regional integration. 'We are not retreating inward. Instead, Malaysia will lead in deepening regional connectivity and global engagement,' Anwar stated. As the nation enters a critical five-year period, 13MP stands as a pivotal plan, one that not only targets high-income status but also aspires to build a resilient, inclusive and innovation-driven Malaysia.
Barnama
27-05-2025
- Business
- Barnama
Top News Headlines In Cambodia, Indonesia, Laos, Myanmar, Singapore, Thailand & Vietnam: May 27, 2025
Cambodian Senate President Hun Sen congratulated Prime Minister of Timor-Leste Kay Rala Xanana GUSMíO as the country prepares to join ASEAN. A milestone for the Timorese people and a testament to ASEAN's solidarity, centrality and commitment to regional integration Child rights organisations conducted a workshop for journalists and editors on reporting child-sensitive issues to protect children and vulnerable communities. Journalists were taught how to report on sensitive issues without jeopardising the children's safety and dignity and ensuring rights were not violated. LOSING PATIENCE WITH INPEX OVER 26-YEAR MASELA GAS BLOCK DELAY -- JAKARTA GLOBE Indonesia is losing patience with Japan's Inpex Corporation over the long-delayed Masela gas project, warning that the government may revoke its license if development continues to stall. Investment Minister Bahlil Lahadalia on Monday said the country is serious about reclaiming its energy independence and will take firm action against underperforming oil and gas contractors. BANKS ON CONSUMERS FOR 5 PCT GROWTH -- THE JAKARTA POST The government has announced a new stimulus package to support consumer spending in the second quarter and lift gross domestic product growth to five percent after a disappointing first quarter. The initiative, unveiled by Coordinating Economic Minister Airlangga Hartarto on Friday, is to become effective on June 5 and last to the end of July, with some of the measures applying just during the school holidays. LAOS ROAD TO BOOST REGIONAL CONNECTIVITY -- VIENTIANE TIMES A major road development to improve east-west connectivity is underway. The project financed by Thailand's Neighbouring Countries Economic Development Cooperation Agency will help improve trade between the neighbouring nations and enhance transport links with Vietnam and China. READY TO EXPAND TRADE SECTORS -- VIENTIANE TIMES Laos and Malaysia's bilateral trade rose to over RM181 million (US$43 million) last year. Both governments agreed to expand joint initiatives across multiple sectors. Cooperation in energy, defence, security, finance, transport and agriculture sectors is in the pipeline. MYANMAR CEMENT TO SUPPORT EARTHQUAKE RECONSTRUCTION -- THE GLOBAL NEW LIGHT OF MYANMAR India donated 225 metric tonnes of cement to assist Myanmar with its reconstruction following the March 28 earthquake. The cargo arrived at the country's largest Thilawa Port in Yangon and the cement will be distributed to earthquake-hit areas for reconstruction. TO STEM ILLICIT TRADE WITH NEIGHBOURS -- THE GLOBAL NEW LIGHT OF MYANMAR The government plans to conduct a multi-agency campaign to stop illegal trade with neighbouring countries. The sectors often exposed to illegal trade are agricultural products, chemicals and pesticides, alcohol, counterfeit goods, forest products, illegal fishing, petroleum products and wildlife trafficking. SINGAPORE TO EXPLORE EXPORTING RENEWABLE ENERGY FROM VIETNAM TO SINGAPORE, MALAYSIA INKED AT ASEAN SUMMIT -- THE STRAITS TIMES Malaysia, Singapore and Vietnam will jointly explore the export of renewable energy following an agreement signed by their government-linked firms on May 26 to collaborate on developing a new electricity link. PLOUGHS INTO FANS AT LIVERPOOL PARADE, INJURING DOZENS; POLICE RULE OUT TERRORISM -- CNA/AGENCIES A car ploughed into large crowds of Liverpool fans during a parade celebrating their side's Premier League title on Monday (May 26), hospitalising 27 people, with two seriously injured, but police said they did not believe the incident was terrorism-related. THAILAND EYES SWIFT TARIFF DEAL WITH US, SIGNALLING AIRCRAFT PURCHASES -- THE NATION Finance Minister anticipates resolution on customs duties within weeks, hints at major aviation procurement amid ongoing trade dialogue. MEASURES SET TO REVIVE STOCKS -- BANGKOK POST Business executives have expressed optimism that the underperforming Thai stock market could see a significant improvement in the second half of 2025, based on their hopes that the government's stimulus measures have been effectively implemented to address the country's economic weakness. VIETNAM TECHNOLOGY TO SPUR GROWTH – VIETNAMPLUS Vietnam is seeking France's support to expand its aerospace, biotechnology, digital technology, semiconductors, quantum technology and the digital economy sectors. Talks surfaced during French President Emmanuel Macron's three-day state visit to Vietnam starting yesterday. CAPITAL INFLUX REFLECTS INVESTOR CONFIDENCE -- VIETNAM NEWS Vietnam's foreign direct investment reached RM58 billion (US$13.82 billion) since the beginning of this year, a 40 per cent jump compared to the same period in 2024. The investments were registered across diverse sectors — from renewable energy, and logistics to advanced materials. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
New Straits Times
03-05-2025
- New Straits Times
Teacher loses RM181,000 in online scam
PONTIAN: A 44-year-old teacher lost RM181,000 after falling victim to an online scam syndicate involving fraudsters impersonating insurance agents and police officers. Pontian district police chief Superintendent Mohammad Shofee Tayib said the victim received a call in early January from someone claiming to represent an insurance company. "The scammer told the victim her name was used in a false claim at a private hospital in Ampang. "She was then contacted by another scammer posing as a police officer, who claimed that she was linked to 17 criminal cases, including involvement in a money laundering syndicate. "In a state of panic and fear, the victim was instructed to make several payments to supposedly resolve the case. "She ended up transferring RM181,000 through seven transactions to accounts provided by the scammers," he said in a statement today. Shofee added that the victim began to grow suspicious after reading news about similar scams. "She then informed her husband, and together they verified the details, eventually realising it was a scam. The victim lodged a police report last Friday," he said. The case is being investigated under Section 420 of the Penal Code for cheating. Shofee advised the public to stay vigilant and informed about common tactics and methods used in commercial crimes, particularly phone and online scams, to avoid falling prey and suffering significant financial losses. Victims are urged to act quickly by contacting the National Scam Response Centre (NSRC) at 997 to block any suspicious fund transfers from being completed.
