Press Statement by the Deputy President of the Malaysia IoT Association on the New Industrial Master Plan 2030

Sunday, 3 September, 2023

As the Deputy President of the Malaysia IoT Association, I commend Prime Minister Dato’ Seri Anwar Ibrahim for his vision and commitment to the New Industrial Master Plan 2030 (NIMP 2030). This plan represents a crucial step towards the economic transformation of our nation, and it aligns with our shared goal of making Malaysia a regional economic powerhouse. However, while we support the plan’s objectives, it’s essential to offer constructive criticism to ensure its success and maximum benefit for our nation.

First and foremost, the NIMP 2030 should focus on streamlining and optimizing existing efforts rather than introducing repetitive initiatives. Malaysia has undertaken various industrial transformation plans in the past, and there is often a lack of continuity and coordination between these initiatives. To avoid the pitfalls of the past, we must prioritize the efficient execution of NIMP 2030, ensuring that it builds upon and integrates with existing programs and strategies.

Furthermore, the plan must be designed to reduce unnecessary hype and ensure that its goals are grounded in achievable outcomes. While it is essential to set ambitious targets, it is equally important to maintain realistic expectations and provide a clear roadmap for implementation. Avoiding overinflated promises will help maintain credibility and trust in the plan among stakeholders.

One critical aspect that deserves specific attention is the empowerment of Small and Medium-sized Enterprises (SMEs). These businesses are the backbone of our economy, and their growth and competitiveness are vital for the success of NIMP 2030. It is crucial that the plan includes concrete measures to support SMEs, such as simplified access to financing, training, and technology adoption. Moreover, it should encourage collaboration between SMEs and larger enterprises to create synergistic value chains.

In addition to SMEs, the NIMP 2030 should emphasize building a robust local technology ecosystem to support technology adoption across industries. The intensification and incentivization of Domestic Direct Investments (DDIs) are vital components of this effort. By fostering a thriving technology ecosystem, we can ensure that businesses have access to the latest innovations and solutions, thus enhancing their competitiveness on a global scale.

Additionally, it is imperative that NIMP 2030 fosters innovation and digitalization across industries, particularly in the context of the Internet of Things (IoT). Embracing IoT technologies can significantly enhance efficiency, productivity, and competitiveness in manufacturing and other sectors. The plan should offer incentives and support for businesses to adopt IoT solutions, ensuring that Malaysia remains at the forefront of technological advancements.

In conclusion, while we applaud the government’s vision for the New Industrial Master Plan 2030, we urge a strategic and measured approach. Let us avoid repeating past mistakes and focus on efficient execution, realistic goal-setting, unwavering support for SMEs, digitalization, and the development of a vibrant local technology ecosystem. With these improvements, we believe that NIMP 2030 can truly transform Malaysia into a regional industrial leader and bring prosperity to all Malaysians.

Dato’ Sri Ganes
Deputy President of the Malaysia IoT Association
Tel: 0126816262
2B-12-3, Plaza Sentral, Blok B, Jalan Stesen Sentral 5, 50470 Kuala Lumpur

Read Summary of NIMP 2030 here.

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