The 12th Malaysia Plan (12MP) will focus on creating a number of new economic sectors and accelerating the development of high growth industries, Minister in the Prime Minister's Department (Economy) Mustapa Mohamed said at a forum held on December 10.

The 12th Malaysia Plan (12MP) will focus on creating a number of new economic sectors and accelerating the development of high growth industries, Minister in the Prime Minister's Department (Economy) Mustapa Mohamed said at a forum held on December 10.

He said the industries include aerospace, advanced electrical and electronics (E&E), halal, creative, biomass and smart farming.

These industries are identified based on their prospects in generating high value-added activities and products, advanced technology adoption, R&D (research and development) and innovation, high-skilled employment as well as contribution to achieving the green agenda.

"The successful implementation of these measures will enhance competitiveness and resilience of the economy, and position Malaysia as an important player in the global supply chain, for complex and high value-added products and services," Mustapa stressed.

Mustapa said the 12MP would concentrate on attracting quality investment which promotes the development of complex products and services, create high-skilled and high-paying jobs, encourage higher use of domestic inputs, and improve development in underserved areas.

The country, he said, needed to move up the value chain, adopt technology and innovation to enhance economic growth, develop an inclusive society to ensure social justice, and boost environmental sustainability./.

Source: ASEAN Vietnam