ISKANDAR PUTERI, May 5 — Malaysia must transform from a trading-based economy into a technology-driven nation to address long-standing issues of low wages, said Deputy Finance Minister Liew Chin Tong.
He stressed that stronger technological innovation among local companies is key to creating higher-paying jobs and reducing reliance on low-skilled labour.
Liew said both federal and state governments must help Malaysian firms grow into multinational players, while leveraging initiatives such as the Johor-Singapore Special Economic Zone.
He added that Greater Johor Bahru has the potential to become Malaysia’s second economic hub after Kuala Lumpur, supporting long-term national competitiveness and income growth.
