GEORGE TOWN: The Economy Ministry expects to finalise its proposals for development spending under the 2027 Budget by mid-August, says Akmal Nasrullah Mohd Nasir (pic).
The Economy Minister said the final screening of development proposals is being done before recommendations are submitted to the Finance Ministry.
"We are looking at new allocations that need to be recommended while also reviewing ongoing projects," he told reporters at Tech Dome Penang in Komtar here on Monday (Aug 10).
Akmal said the 2027 development plans would focus on strengthening implementation of the 13th Malaysia Plan (RMK13), particularly efforts to accelerate the growth of high-value industries.
He said the second rolling plan under the 13th Malaysia Plan (RMK13) would also consider infrastructure, facilities and the readiness of government agencies to support development.
"Some components have already been approved under the first rolling plan.
"For the second rolling plan, we will look at infrastructure needs and how government development can accelerate the high-growth, high-value industries that we have proposed," he said.
Akmal said the Economy Ministry would also continue reviewing ongoing projects alongside proposals for new allocations.
He cited the Penang Science, Technology, Engineering and Mathematics (STEM) Talent Blueprint as an example, saying the ministry had agreed to allocate RM12.3mil over four years after discussions with the state government and industry.
He said the programme would prepare local students for better-paying jobs while serving as a pilot for a broader ecosystem approach to STEM development that could later be introduced in other states.
Also present were Penang Chief Minister Chow Kon Yeow, Penang trade and national unity committee chairman Goh Choon Aik and Penang STEM chief executive officer Richard Chung.
Earlier, Chow said the state welcomed the Economy Ministry's support for the Penang STEM Talent Blueprint, which he said would strengthen existing efforts to develop talent for the state's economy.
"We thank the Economy Ministry for accepting the STEM blueprint launched in Penang and for providing the allocation to support it until 2030," he said.
Chow said the initiative would build on various STEM programmes already undertaken in the state and strengthen collaboration with industry, including student placements.
He said one of its aims was to provide students with a clearer pathway into the workforce from an early stage.
