Govt seeks to create bigger middle-income group in Malaysia

JOHOR BARU: The New Industrial Master Plan 2030 (NIMP 2030), which is currently being reviewed by the International Trade and Industry Ministry, can help create a bigger middle-income earner group in Malaysia.

Deputy International Trade and Industry Minister Liew Chin Tong said in 2021, about 50% of the population here earned RM2,250 and above in wages.

"What is worrying about this issue is the remaining 50% of Malaysians earning less than that amount in their wages, which will cause unhappiness among the people as their salary is small.

"The government, through the ministry and relevant agencies under it, is taking proactive measures to tackle this issue as we want to see a bigger middle income society in the country," he added.

Liew said this in his speech during the Malaysian Industrial Development Finance Berhad (MIDF) hi-tea event with local industry players at a hotel here on Thursday (March 16).

He said the ministry was currently reviewing and making further improvements towards the NIMP 2030 that would benefit local industry players and Malaysians as a whole.

"When I met various industry players, many of them raised the issue of labour shortage as they are keen on getting cheaper foreign labour.

"But it is a problem as many of these foreign workers preferred going to countries offering higher wages such as those in the Middle East instead of coming here," he said.

Liew, who was also Iskandar Puteri MP, added that on the other hand, thousands of Malaysians crossed the Causeway on a daily basis to work in Singapore due to the higher wages there.

He said after discussions with them, they would be willing to work in Malaysia if the salaries offered to them were good.

"However, local industry employers are only willing to pay them one-third of their Singapore salaries instead of raising it to at least two-thirds of what they earned in the island republic," he said.

Liew also said through the revised NIMP 2030, the ministry would emphasise on Industrial Revolution 4.0 usage by promoting cost efficient and affordable technology to industry players.

"This will see us lessen our dependence on cheap labour and create a high-skill local workforce able to earn high salaries," he added.

The revised NIMP 2030 was expected to be completed in the third quarter of 2023.

According to the ministry, the reviewed NIMP 2030 would articulate a set of comprehensive strategies and action plans to ensure synergies at both the policy and industry levels, particularly in creating supportive ecosystems to help catalyse Malaysia’s industrial development into the future.