A Candid Fireside Chat on Malaysia’s Economic Future

Описание: A Candid Fireside Chat on Malaysia’s Economic Future

Malaysia’s economic transformation took centre stage at the Fireside Chat with the Minister of Economy, a timely and insightful conversation that brought the 13th Malaysia Plan (RMK13) back into sharp focus. Moderated by YBhg. Dato’ Sri Khairussaleh Ramli, President & Group CEO of Maybank, the session featured YB Tuan Haji Akmal Nasrullah bin Haji Mohd Nasir, Malaysia’s Minister of Economy, in a refreshingly open discussion on vision, execution, and delivery.

RMK13 marks a pivotal phase in advancing the MADANI Economy, with ambitious targets that include real GDP growth of 4.5%–5.5% annually, achieving high-income nation status by 2030, and reducing the fiscal deficit to below 3% of GDP. Beyond the numbers, the Plan is about reshaping Malaysia into a value creation–based economy anchored on technology, innovation, and globally competitive “Made by Malaysia” products.

One of the strongest themes from the conversation was execution. Minister Akmal Nasrullah was clear that RMK13 is not meant to be a document that sits on a shelf. From day one, implementation is being closely tracked through a new in-house digital system that assigns clear ownership and accountability across ministries. This approach is designed to break down silos, improve coordination, and ensure that policies translate into tangible outcomes.

Dato’ Sri Khairussaleh’s moderation added both warmth and depth, drawing out personal insights alongside policy substance. From light moments—such as the Minister sharing his decision to step away from WhatsApp—to serious discussions on governance and accountability, the exchange humanised leadership while keeping the focus firmly on national priorities.

Private sector participation emerged as a decisive factor. Sustained growth at the levels envisioned under RMK13 cannot happen without strong investment momentum. Flagship initiatives such as the New Industrial Master Plan (NIMP), National Semiconductor Strategy (NSS), and National Energy Transition Roadmap (NETR) are structured to crowd in private capital, upgrade industrial capabilities, and move Malaysia up the global value chain.

On sustainability, the Minister outlined Malaysia’s clear commitment to net zero by 2050, including the phased retirement of coal power plants, accelerated renewable energy deployment, and openness to nuclear energy as part of the long-term transition. This pragmatic stance reflects the need to balance climate goals with energy security and economic growth.

Raising incomes and reducing inequality are equally central to RMK13. Progressive wage policies, minimum wage adjustments, and productivity-linked pay aim to raise household incomes while avoiding wage compression. Regional development—through rural investment hubs, digital infrastructure, and place-based strategies—seeks to narrow gaps between urban and rural Malaysia, as well as across regions.

The session closed on a confident yet grounded note. As Minister Akmal Nasrullah emphasised, Malaysia does not lack good policies—it needs disciplined execution. With RMK13 as the roadmap and collaboration between government, industry, and society, the journey from vision to action is well underway.

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