KUALA LUMPUR, Jan 14 (Bernama) — Malaysia should start thinking about creating synergy between the state government, private sector and technology, which would allow for much more technology acquisition into the government system, says Deputy Investment, Trade and Industry Minister Liew Chin Tong.
He said the semiconductor industry is one area the government focuses on.
“We want to see Malaysia not only (involved) in outsourced semiconductor assembly and test (OSAT). We want Malaysia to move up in the supply chain and become, at the least, an indispensable middle (party).
“We may not be able to provide and create technology like the United States, China, Japan, Korea, or Taiwan, but we want to occupy a space just below that,” he said in panel session 4 of the ASEAN Workshop on Sustainable Development (AWSD) 2025 at Sunway University, here today.
The session, entitled “Transformative Economic Management for Malaysia Madani in a Politically Fractious World Threatened by Environmental Crises”, was also joined by UN Sustainable Development Solutions Network Asia Headquarters distinguished fellow, Sunway University, Datuk Seri Mustapa Mohamed and the vice-president for Asia, UN Sustainable Development Solutions Network; visiting professor, Institute for Advanced Studies; and Universiti Malaya Prof Emeritus Datuk Dr Woo Wing Thye, as speakers.
According to Liew, Malaysia can occupy an indispensable middle in the supply chain, particularly in the semiconductor supply chain, and the country should be creating a lot more intellectual properties (IPs) and develop much more Malaysian-made technology in the years to come.
“So we need an industrial policy. We cannot just go by neoliberal ideas that the market knows everything. And we also need a more useful state, a government that provides public services for the people,” he said.
Meanwhile, Mustapa said there are several challenges in achieving the MADANI objective.
“Currently, we are ranked 36th among the world’s largest economies. Our target is to be in the top 30 within 10 years. According to some analysts, to reach this goal, we need to grow at least 2.0 per cent higher than our current rate, which is undeniably a tall order,” he said.
While having a big vision and agenda is essential, the former minister said the government should also pay attention to the smaller, everyday matters.
“For us to become one of the top 30 economies in the world, we need to achieve a growth rate exceeding 5.0 per cent. It’s not rocket science, but it requires consistent effort and sustainable fiscal stability. Ensuring a budget surplus annually should remain a key focus.
“So, yes, addressing the big picture is crucial, but moving forward, economic management must also pay attention to bread-and-butter issues that directly affect people’s lives. While we cannot make everyone happy, we must strive to improve the well-being of as many people as possible,” he said.
Citing an example of the recent issues surrounding medical insurance, Mustapa said the matter highlighted the need for policies that are not only sustainable but also inclusive.
“It is critical for us, as a country, to ensure that economic growth benefits all levels of society. While we have made significant progress in addressing hardcore poverty, there are still many poor people who need assistance.
“Economic management, therefore, is not just about big-picture goals; it’s about addressing the cost of living and ensuring that the smaller, day-to-day issues are not overlooked,” he added.
— BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
This post was originally published on here
