南阳商报

南洋商报

南洋商报

The Star

• Following the expiration of the Third Industrial Master Plan (IMP3) 2006-2020, the long-awaited New Industrial Master Plan (NIMP) 2030 was unveiled on 1 September 2023.

• Overall, the NIMP 2030 is a comprehensive industrial direction, outlined strategies and enablers with the aim of positioning Malaysia for next leg of our manufacturing transformation into new growth and catalytic industries in the years ahead.

• Unlike the IMP3, which was formulated on sector-based approach, the NIMP 2030 calls for a “Whole-of-Nation” approach and adopts a mission-based approach to drive the manufacturing transformation in four ways, that is by (i) Advancing economic complexity; (ii) Tech-up for a digitally vibrant nation; (iii) Pushing for net zero target; and (iv) Safeguarding economic security and inclusivity.

• The NIMP 2030 is supported by four enablers, 21 strategies and 62 action plans for the development of 21 sectors, including five pivotal sectors, namely (i) Electrical and electronics (E&E); (ii) Chemical; (iii) Advanced materials; (iv) Aerospace; and (v) Healthcare (including medical devices and pharmaceuticals).

• The formulation of NIMP 2030 is aligned with 32 related policies and roadmaps, with most of them were contained in existing documents such as the 12th Malaysia Plan, New Investment Policy 2022-2027, and National Trade Blueprint 2021-2025, while some of the documents are in the pipeline of launching, e.g. iESG Framework.

• The launching of the National Energy Transition Roadmap (NETR) marks an important transformational change in shaping how our energy is generated and used sustainably to meet our net-zero target.

• The NETR has outlined 50 initiatives under six energy transition levers and five cross-cutting enablers. Twelve (12) ministries and eight (8) government agencies and government-linked companies were identified as the spearheading champions to work together with all stakeholders to drive the energy transition and catalytic projects.

• It is clear that the Government is committed to advancing the energy transition movement of Malaysia. There are massive opportunities totalling between RM1.2 trillion and RM1.3 trillion by 2050 for more projects to be developed by both foreign and local investors.

• A good monitoring and evaluation system is important to track the progress of the NETR, including periodical updates to the investors and public in a timely manner.

• Towards this end, we welcome the establishment of the National Energy Council to set forth high-level strategic directions and policies, allowing for the working committees to coordinate and report the progress of the NETR.

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