KUALA LUMPUR, July 31 — Malaysia will continue to progress as a developed nation based on its definition and values, embracing a free market system, becoming a top global investment destination, and leading the regional market by 2040.
According to the Economy Ministry's 13th Malaysia Plan Report (2026–2030), themed "Redesigning Development", this success stems from a shift towards a more diverse economy that enables high-value product output across global value chains.
“This transition also offers fair opportunities for skilled local talent to boost productivity with progressive wages,” it said in the report.
The ministry noted that Malaysia’s industries are recognised for producing advanced technologies developed through locally led research, development, commercialisation, and innovation.
The government plays a responsive and facilitative role in strengthening the economic ecosystem, enabling all economic agents to operate efficiently.
It also sets clear, consistent, and strategic policies and directions to guide stakeholders in making aligned decisions towards national development goals.
“The government is also responsible for ensuring comprehensive, integrated, and high-quality infrastructure and public facilities to support business, society, and public needs,” it stated in the five-year strategy document.
Government support, like financing, incentives, and targeted programmes, will continue to be improved to ensure inclusivity and address economic disparities.
Meanwhile, Malaysian companies are enhancing their capacity and competitiveness globally and are venturing into new high-potential industries.
“They actively collaborate with research institutions and investors to produce disruptive products and services that generate high value,” said the ministry.
Employers offer fair, progressive wages, foster worker-friendly environments, and invest early in identifying and developing talent and skills to improve workforce productivity.
Individuals and communities also play a vital role in creating an inclusive economy by participating actively in economic activities and supporting local businesses.
Individuals are seen as future-ready human capital who strive to contribute their skills and energy across sectors. They are strategic thinkers who seek and create opportunities through entrepreneurship to generate value, income, and wealth.
“Communities act as change agents, sharing responsibility in cultivating a culture of innovation and supporting local economic activity,” it concludes.
— Bernama
