The 12th Malaysia Plan 2021-2025 Mid-Term Review (12MP MTR) evaluates the progress made, recognises the challenges faced, and charts the path to a sustainable, prosperous, and high-income nation. This direction is underscored by 17 “Big Bolds” and 71 main strategies and initiatives, all aiming to realise the theme of ‘Ekonomi MADANI: Memperkasa Rakyat’.

Malaysia’s 2050 Independence Day 

On August 31, Malaysia will proudly celebrate her Independence Day, and then, on September 16, we will observe Malaysia Day, commemorating the historic inclusion of Sabah and Sarawak into our diverse and vibrant federation. These dates are not just milestones; they are reminders of our journey toward unity and the ongoing pursuit of a more prosperous and harmonious Malaysia.

No Nations Should Go Hungry
The COVID-19 pandemic underscored numerous lessons for nations worldwide,
and for Malaysia, a critical takeaway beyond healthcare fortification was the
imperative to secure its food supply at all costs. Despite prolonged lockdowns,
Malaysia remarkably avoided a food crisis, effectively feeding its 33 million
citizens—a feat not many countries can claim.

Road To Recovery, Continues…
As we pass the midway point of 2024, it is essential to review global economic indicators and understand the broader implications for the future. 
In the United States, the Federal Reserve has taken a cautious approach by maintaining higher interest rates longer than many analysts had anticipated. Despite predictions of a rate cut in the second quarter, current forecasts suggest that this adjustment might occur later in the year. This delay is primarily due to weakening job prospects in the world’s largest economy.

A Home for All Malaysians

In this issue, we are honored to interview the Minister of Housing and Local Government, YB Nga Kor Ming. He shared his insights on pressing issues affecting the housing market, including rising home prices, sustainable housing, and trans-generational living. The Minister outlined several initiatives aimed at addressing these concerns.

Better Than Expected

The theme, “Better Than Expected,” perfectly captures the positive economic shifts we are witnessing. According to the Department of Statistics, the country’s Gross Domestic Product (GDP) delivered an exceptional performance, growing by 4.2% in the first quarter—the fastest pace this year. This growth is a promising sign, reflecting the resilience and adaptability of our economy in the face of global challenges.

Leveraging on advanced technology is vital for Malaysia to foster a future-forward economy.

Technology has been rightly set forth by the Madani Government in making Malaysia an attractive investment destination in both traditional and digital industries while offer significant advantages for Malaysians and foreign investors alike.

Initiatives to support startups, enhance digital infrastructure and promote digital transformation across industries has spurred economic growth and create new opportunities for businesses, needless to say the vast number of jobs for Malaysians in becoming a digitally driven, high-income nation and a regional digital economy leader. Accelerating digital transformation, industry transition, and supply chain optimisation simply works to magnify Malaysia’s global growth potential into the new age.

Manufacturing Metamorphosis Can Propel Malaysian Exports

The manufacturing industry faces a business environment of mounting volatility,
uncertainty, complexity, and ambiguity, or VUCA. The VUCA acronym is used to describe
situations that are difficult to understand, making it hard to predict the outcomes of
any actions taken.

Economy Minister Rafizi Ramli said the newly released Progressive Wage  Policy Mechanism covers three main criteria, which are participation  conditions, annual salary increase proposals and incentives according to  employee rates and groups.
The conditions for employers to register as Progressive Wage Employers  were drawn up with a focus on local companies, especially micro, small and  medium enterprises (MSME) since the majority of workers who receive low wages are MSME workers.

The New Industrial Master Plan 2030 (NIMP 2030) is a comprehensive 
strategic plan to drive towards prosperity and to optimise the true potential 
of uplifting Malaysia’s manufacturing and services sectors premised 
on restructuring the economy to make the nation a regional economic 
powerhouse. It focuses on national strategic direction, a reference for 
investors and to feature the role of government in shaping the economy. It 
lays out a broad plan for Malaysia to become a global leader in industrial 
development, generate wealth nationwide, and enhance its position in the 
global value chain

Academicians from AIMST University say that as Business 4.0 takes root, 
forward-thinking developers will adopt these digital tools and innovations. 
This will enable them to produce higher-quality products more efficiently 
and respond more quickly to shifting consumer demands, thereby increasing 
customer loyalty and market share.

Agriculture and Food Security Minister Datuk Seri Mohamad Sabu said 
Salahuddin was also an individual synonymous with the concept of Rahmah 
which provided benefits to the people, especially in dealing with issues 
concerning the cost of living

Why future brands must interweave technology?

Property Transactions to hit record high 

When technology & Media mix... rules are broken

Digital Transformation For SMBs Made Possible With
HP Technology

Revised Budget 2023: Equitable,
With A Touch Of Robin Hood’s
Cause In Developing Malaysia
Madani

Mranti Propels Malaysia’s Drone Technology to Catalyse Emerging Technology Innovations

A premier English monthly business magazine, Business Today has grown in leaps and bounds since its inception in May 2001. Today, it is instantly recognised all over Malaysia as the definitive business magazine that brings the business community closer and exposes them to the global competitive edge. 

Business Today also hears and caters to the increasingly important issues, initiatives and incentives provided to the SME and SMB industries in order for Malaysia to rise to become a high income nation. 

Business Today readers will find key trends in economic, financial and business developments which impact the business ecosystem in Malaysia.

Not affiliated with Business Today India.

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

Business Today Malaysia Magazine - September 2023

Business Today Malaysia Magazine - September 2023

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