Reindustrialization Agenda: Stronger Public-Private collaboration vital – Zafrul

The MITI Dialogue 2024 emphasized disciplined execution and public-private collaboration for Malaysia’s reindustrialization agenda outlined in the New Industrial Master Plan 2030 (NIMP2030).

Led by MITI Minister Tengku Zafrul Aziz, the dialogue aimed to enhance Malaysia’s industrial ecosystem. Key issues addressed included SME empowerment, talent acquisition, FDI attraction, and technology adoption. MITI plans to track progress through Quarterly Report Card Days and develop dashboards for transparency.

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Reindustrialization for economic growth.

Industry stakeholders expressed commitment to collaborating with the government. MITI aims to strengthen partnerships to drive Malaysia’s reindustrialization for economic growth.

Tengku Zafrul says, “A policy is only as good as its implementation. Proper execution of NIMP is increasingly pertinent for Malaysia to continue enhancing its national business and investment landscape competitiveness. In putting our resources where our mouth is, MITI last year announced its Quarterly Report Card Day, where we will share progress of the various policies under MITI’s purview.

“We are currently developing a dashboard for both the NIMP and other key metrics from specific policies, to make it easier for industry members and the public to track our progress. As we track projects, we must also be bold enough to review targets, if necessary, so that we can correct our course occasionally. ”