KUALA LUMPUR, October 21 — Senator Datuk Seri Tengku Zafrul Abdul Aziz, Malaysia’s Minister of Trade, Investment, and Industry, likened the nation’s economic development to a marathon, emphasizing the need for sustained efforts rather than short-term gains. Reflecting on the World Bank’s revised growth projections of 4.9% for 2024 and Malaysia’s potential high-income status by 2027, Tengku Zafrul attributed these successes to stable political leadership, the New Industrial Masterplan (NIMP) 2030, and strategic investment in sectors like manufacturing and technology.
With RM160 billion in approved investments during the first half of 2024 and Malaysia securing tech infrastructure deals with giants like Google and Microsoft, the country’s role in global supply chains and green investments continues to expand. Tengku Zafrul emphasized the importance of NIMP’s inclusive growth strategy, fostering industry-academia partnerships to create a future-ready workforce while leveraging Malaysia’s position within Asean to maintain momentum for long-term prosperity.
