Malaysia fokus bina daya tahan ekonomi

Malaysia's economic focus is shifting from growth to building a more resilient foundation, amid global uncertainties, according to the Malaysian Investment Development Authority (MIDA). MIDA's Chairman, Tengku Zafrul Aziz, emphasized the need to prepare for utilizing clear opportunities while ensuring the country remains resilient against unforeseen shocks. The primary fiscal reform includes rationalizing fuel subsidies and the Fiscal Responsibility Act, which strengthens the nation's financial position.

However, economic transformation must also address concerns of vulnerable groups while enhancing the nation's capabilities. Tengku Zafrul highlighted the importance of proactively increasing revenue through higher wages aligned with productivity, creating more high-paying jobs, and promoting entrepreneurship. He pointed out that the trade landscape is changing, and artificial intelligence (AI) is not only assisting workers but also transforming job structures, including entry-level roles for the younger generation.

The youth population can become an economic asset only if it contributes to productivity growth, innovation, high-value jobs, and new businesses.

For Malaysia to reap benefits from incoming investments and record-level foreign direct investment (FDI), it is crucial to ask how this funding translates into higher-paying jobs, increased engineering skills among young professionals, and the success of small and medium-sized enterprises (SMEs) in global supply chains. The influx of capital should help build stronger enterprises, while technology should enhance workforce skills, according to Tengku Zafrul.