What reform measures will the economic plan address for future growth?

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The economic plan will address several reform measures for future growth, focusing on the workforce, labour market, investments, and the digital economy.

The medium to long term economic recovery plan, slated for presentation in October, will encompass a range of reform measures aimed at guiding Malaysia's long-term economic growth and sustainability. These reforms will specifically examine the future of the workforce, the dynamics of the labour market, the attraction of quality investments, and the development of the digital economy. The government intends to re-evaluate the roles of both public and private sectors as part of this comprehensive development strategy.
Workforce and Labour Market Reforms

The economic recovery plan will involve a review of the future of the workforce and the labour market. This suggests an examination of how these areas can be adapted to meet evolving economic demands and technological advancements. Generally, such reforms aim to enhance skills development, improve labour productivity, and ensure the workforce is equipped for emerging industries.
Quality Investments and Digital Economy Focus

A significant aspect of the reform process will be a focus on attracting quality investments and fostering the digital economy. This implies strategies to encourage investments that contribute significantly to national development and economic spillover effects. The emphasis on the digital economy points towards initiatives designed to accelerate digital transformation and leverage technology for economic expansion.
Public-Private Partnership and Facilitation Fund

To bolster private sector participation and drive sector reform, the government has previously established a RM20 billion Facilitation Fund under the 10th and 11th Malaysia Plans. This fund aims to bridge viability gaps for strategically impactful projects with substantial economic spillover effects, with RM5 billion designated for land acquisition and RM15 billion to aid project financing. To date, 320 projects totalling RM14.23 billion have been approved, generating RM232.47 billion in economic activities.

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What reform measures will the economic plan address for future growth?

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