New Phase in The Country’s Industrial Development
The overriding objective is to strengthen the resilience and growth of the economic sector.
Preparing The Industry Towards Globalization
The manufacturing sector will need to further strengthen its competitiveness and capacity as well as position itself to take advantage of the opportunities and challenges arising from global and regional developments in trade and investment.
Strengthening the Industrial Cluster
Efforts will be made to enhance the development of new sources of growth so as to diversify and broaden the manufacturing base.
Strengthening The Manufacturing-Related Services
To strengthen manufacturing-related services and encourage industry to enhance quality of production and process technology.
Providing More Focused Incentives for High Value-Added Industries
The Government will identify improvements to existing incentives as well as introduce more focused incentives to strengthen industrialisation in the country as a means to encourage investments in high value-added industries.i.
Increasing the Use of Technology and Developing Strong Domestic Capability
Efforts will continue to focus on increasing the use of technology and developing a strong domestic base in terms of capabilities and knowledge.
Enhancing Local Production of Capital and Intermediate Goods
The Government will continue to emphasise on the policy to increase the production of capital and intermediate goods so as to provide a range of economic benefits such as improvements in the balance of payments and foreign reserves.
New approaches and initiatives will be developed to promote exports. These include establishing regional exhibition and distribution centres in selected overseas market equipped with distribution facilities in collaboration with the private sector, promoting more inward buying delegations to Malaysia and organising specialised international trade fairs to promote exports.
Productivity and quality enhancement is crucial in achieving greater efficiency in the production of goods and services. Active promotion of productivity will continue to be undertaken to increase awareness and understanding of the importance of productivity and quality.
Increasing The Use of ICT
Malaysian enterprises will urgently need to enhance their ICT-based competitive edge to take advantage of the opportunities of a borderless market.
Developing Resilient SMEs
SMEs will have to adopt innovative approaches including benchmarking against international standards to meet the requirements of the increasingly competitive business environment.