Budget 2027: Technology adoption, business growth key to higher wages, says minister
KUALA LUMPUR, Oct 14 — The adoption of technology and business scaling can boost company productivity and enhance...
Economy Minister Akmal Nasrullah Mohd Nasir emphasized that technology adoption and business scaling are essential for boosting company productivity and enabling wage increases for employees during a recent interview on Bernama TV. He stressed that productivity improvements should involve both workers and employers, and the current wage increases need to be balanced with productivity gains at the employer level.
The minister highlighted the importance of technology adoption and financing to strengthen the capabilities of micro, small, and medium enterprises (MSMEs), noting that comprehensive adoption of technology over relying on low-cost labor, such as foreign workers, is necessary. He also mentioned that the 13th Malaysia Plan aims to reduce reliance on foreign workers from 15% to 10% by the end of the plan period.
Energy-efficient machinery and equipment can help reduce operating costs, and government matching grants are available for energy efficiency audits. Specific funds for technology adoption and productivity enhancement are managed by relevant ministries.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
