What is Our Vision/ Goal?
The Vision for NIMP 2030 is aligned with the NIA Goals, which is for Malaysia to have:
- Competitive industry with high economic complexity
- High income and skilled workforce
- Strong domestic linkages
- Well-developed new and existing industry clusters
- Balanced and inclusive participation
- Sustainable development
To achieve this, Malaysia must ensure that every part of the nation achieves its full potential. The NIMP 2030 is focused on strengthening public and private investment partnerships in high growth opportunities, nurturing an innovative and entrepreneurial culture, driving R&D priorities for industries, improving connections across regional industrial clusters and catalysing transformation in investment and labour productivity across the economy.
How is the NIMP 2030 different from previous editions of the Industrial Master Plans?
The NIMP 2030 will adopt a mission-based approach to drive industry transformation and realise our vision. Several industrialised countries, including Japan, the UK, and Germany, have successfully implemented similar approaches in their industrial policy formulation. This approach unites the nation, fostering collaboration to transform industries collectively.
The NIMP 2030 will depart from a sectoral approach. Instead, it will focus on mission-oriented initiatives to achieve transformative outcomes.
Additional focus are given to digital and ESG to help companies create value and spur innovation.
What is the Mission-Based Approach?
Mission-based approach rallies a whole nation to work together collectively to transform industries and achieve a common vision and shared set of goals. It galvanises the whole-of-government and the whole-of-nation, with the participation of both public and private sectors, to unlock the cross-cutting nature of the sectors with horizontal strategies.
To effectively drive Malaysian industrial development requires “moon-shot thinking” – setting ambitious goals and pursuing them with bold solutions to achieve transformative outcomes. Hence, the NIMP 2030 will adopt a Mission-based approach to drive industry development. This approach will also serve as a lever to enhance capabilities in line with the strategic investment and industrial goals under the NIA.
What are the Missions identified in the NIMP 2030?
To meet the Goals and targets, 4 Missions were formulated
Mission 1: Advance economic complexity
Mission 2: Tech up for a digitally vibrant nation
Mission 3: Push for Net Zero
Mission 4: Safeguard economic security and inclusivity
The Missions are interlinked and requires all to be advanced simultaneously towards achieving the Goals and targets. To advance economic complexity, it will require the industry to innovate and produce more sophisticated products, which can be supported by Mission 2, through the adoption of advanced technology.
By embracing technology, it can also assist the industries in reducing carbon emissions, which supports Mission 3. Additionally, as part of Mission 3, the aim is to enter new green growth areas, which can contribute to advanced economic complexity.
Lastly, Mission 4 aims to create an enabling environment that fosters entrepreneurship, supports SMEs, and promotes equitable participation in economic activities. This is key in supporting the other 3 Missions, as it will require the participation of the whole nation to ensure the success of the NIMP 2030.
What are Mission-Based Projects?
Mission-based Projects are catalytic projects that have been identified to catapult the mission-based implementation. MBPs encompass a wide range of areas that are critical to achieve industrial development objectives.
Strategic engagements with industry players are held to identify MBP champions to drive the MBPs. Continuous engagement with industries and stakeholders will be conducted through ‘Industry deals’. These deals will provide an avenue for industry players to foster collaborative partnerships and submit strategic proposals for
MBPs that can be executed in delivering the Missions.
How will the key Enablers support the NIMP 2030?
The Enablers will support the NIMP 2030 by driving systemic and institutional reforms. This will be done by:
- Mobilising a comprehensive financing ecosystem to support industry development
- Fostering and attracting the right talent to support high value-added activities
- Establishing best-in-class investor journey to provide seamless investor experience in Malaysia
- Introducing a whole-of-nation governance to rally the industry and implement the NIMP 2030
Is the NIMP 2030 applicable to SMEs?
Yes. SMEs play a very significant role in promoting economic growth, employment and income. As SMEs contribute to about 38 per cent of the total GDP in Malaysia, SMEs are key suppliers of local content, providing value chain and export support and contributing to overall regional development. This position SMEs as crucial economic contributor towards achieving the NIMP 2030 Goals and Missions.
What are the sectors involved in NIMP 2030?
There are 21 sectors covered in the NIMP 2030, the sectors are the contributors towards achieving the goals and missions of the NIMP 2030. Rallying all the sectors:
How will the NIMP 2030 be implemented?
The NIMP 2030 adopts a whole-of-nation approach that involves both public and private to work collaboratively to achieve the Vision and Goals. This promotes visibility and transparency throughout the implementation of the NIMP 2030.
A governance structure will be set up with 3 levels of reporting:
- National NIMP 2030 Council – chaired by YAB Prime Minister for the highest level of government oversight
- NIMP 2030 Steering Committee – chaired by YB Minister of MITI with participation of private sectors to ensure collaboration between the industry players and the Government
- Delivery Management Unit (DMU) – led by KSU MITI for structure and close monitoring