Malaysia fokus bina daya tahan ekonomi

Malaysia is shifting its economic focus from rapid growth to building a more resilient economy, despite global uncertainties, according to the Malaysian Investment Development Authority (MIDA). MIDA's chairman, Tengku Zafrul Aziz, stated that managing the economy also means preparing to capitalize on clear opportunities while ensuring Malaysia remains resilient to unexpected shocks.

Major fiscal reforms, including the rationalization of fuel subsidies and the Fiscal Responsibility Act, are strengthening the public financial position, he added.

However, economic transformation must also address concerns by protecting vulnerable groups and enhancing national capabilities. Boosting revenue proactively is crucial, with efforts to increase wages in line with productivity, create more well-paid jobs, and encourage entrepreneurship. Tengku Zafrul noted that the trade landscape is changing, while artificial intelligence (AI) is not only assisting workers but also reshaping job structures, including entry-level roles for young people.

The youthful population can become an economic asset only if it contributes to productivity growth, innovation, high-value jobs, and new businesses. To benefit from foreign investment inflows, Malaysia must inquire about the outcomes for Malaysian people, such as the number of high-paying jobs, the number of young engineers gaining new skills, and the success of small and medium enterprises in global supply chains. Investment should help build stronger companies, while technology should enhance workforce skills.