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The Ministry of Trade, Investment, and Industry (MITI) of Malaysia is committed to digitally equipping the country, positioning it as a leading hub for manufacturing and services. Minister Tengku Datuk Seri Zafrul Aziz emphasised this during his keynote at an InvestKL Corporation event, highlighting how strong policies, world-class infrastructure, and a resilient economy will support Malaysia’s future growth.
A central component of this strategy is the New Industrial Masterplan 2030 (NIMP 2030), which aims to create 3,000 smart factories by 2030 by integrating advanced technology, leveraging data for strategic insights, and delivering personalised services. This initiative is part of a broader effort to balance and elevate both manufacturing and modern services sectors.
The NIMP 2030 targets three key service areas: digital and ICT services, global services, and professional services, as well as manufacturing-related services (MRS). In digital services, Malaysia has been enhancing its digital infrastructure, with major companies choosing the country as a base for their cloud computing networks.
Minister Tengku Zafrul noted that Malaysia’s approved investments in the first half of 2024 reached RM160 billion, marking an 18% year-on-year increase, with the services sector—especially technology and digital services – contributing RM97.2 billion (60.7% of total investments).
The establishment of a tech giant’s cloud infrastructure, in particular, has been instrumental in digitally enabling various sectors, including startups, enterprises, government, educators, and NGOs. This investment is crucial in helping Malaysia meet the growing demands of the high-tech economy.
Talent development is key to supporting these ambitions. MITI is committed to developing a skilled workforce capable of meeting the evolving demands of the modern services sector. MITI is also aligning its plans with other national policies like the National Industry Framework for ESG (i-ESG), National Semiconductor Strategy (NSS), Green Investment Strategy (GIS), and the Circular Economy Policy Framework for Manufacturing. These policies ensure that Malaysia’s industrial growth is sustainable and inclusive.
As Malaysia prepares to chair ASEAN in 2025, MITI is working to build a more prosperous, inclusive, and sustainable ASEAN region. Tengku Zafrul outlined that the government is focused on ensuring ASEAN’s role as a neutral partner in global supply chains, especially amid ongoing geopolitical challenges. He noted that many multinational companies seek ASEAN as a reliable partner, and Malaysia, as part of this regional alliance, remains open to collaboration with global partners.
One key initiative under Malaysia’s ASEAN chairmanship will be pushing for the substantial completion of the Digital Economy Framework Agreement (DEFA), a critical move for strengthening digital economies across the region. This agreement is aligned with Malaysia’s broader vision for modern services, focusing on digital transformation and collaboration across the ASEAN bloc.
Minister Tengku Zafrul expressed optimism about ASEAN’s growing role in the global supply chain and the region’s rising significance in the global economic order. He stressed that ASEAN’s position as a key supply chain hub is still developing, and Malaysia is ready to play a central role in that growth. This focus on digital economy initiatives, alongside efforts to maintain ASEAN neutrality, will help Malaysia and the region navigate future economic challenges.
OpenGov Asia reported that the Malaysia Digital Economy Corporation (MDEC) is another key agency leading the digital economy under the Ministry of Digital. MDEC’s initiatives are crucial for Malaysia’s digital transformation. By promoting digital literacy, entrepreneurship, and career development, MDEC empowers communities and builds an inclusive digital economy.
By fostering talent, strengthening trade partnerships, and implementing smart industrial policies, MITI aims to ensure that Malaysia remains a competitive player in the global economy while contributing to ASEAN’s shared prosperity. Through sustainable, inclusive growth and digital transformation, Malaysia is well-positioned to thrive in the next decade.
