MALAYSIA MUST BREAK FREE FROM MIDDLE-INCOME TRAP – ANWAR

BUKIT MERTAJAM, Jan 24 (Bernama) -- Malaysia must break free from being trapped as a middle-income country by setting a clear direction towards a high-value economy driven by technology and digitalisation, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the country’s economic fundamentals are now increasingly strong, and this momentum must be followed through with the comprehensive implementation of digital transformation policies, including at the local authority level through the development of smart cities.

“When the country has laid a more convincing economic foundation, it must be followed by a clear direction so that Malaysia is no longer trapped as a middle-income or so-called middle-income trap country.

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“We observe developments in other countries — they progress, then get stuck at a certain stage. That is why we have formulated several policies under the industrial master plan and digital transformation,” he said when officiating the Seberang Perai Aspire Centre and Community Outreach Programme at the Seberang Perai City Council (MBSP) complex here today.

Also present were Penang Chief Minister Chow Kon Yeow, Deputy Chief Minister I Datuk Dr Mohamad Abdul Hamid and Seberang Perai Mayor Datuk Baderul Amin Abdul Hamid.

Anwar, who is also Finance Minister, said Malaysia has now emerged as a leading investment destination in high-technology sectors, including semiconductors and artificial intelligence (AI), with global companies such as Infineon Technologies, Nvidia Corporation and Google choosing the country as a regional hub and investment base.

He said these developments place Malaysia in a strategic position, but require a significant leap in human capital capabilities through skills training, upskilling and reskilling to ensure that the people are able to fully benefit from the opportunities available.

Elaborating further, the Prime Minister said Penang has an advantage in terms of its industrial ecosystem, particularly in the semiconductor sector, and MBSP is among the earliest local councils to take the initiative to translate the smart city concept into practice despite facing financial constraints.

He also said the country’s encouraging economic performance, including the strengthening of the ringgit as well as increased investment and trade reaching RM3 trillion, reflects the confidence and commitment of Malaysians from all walks of life.

Earlier, Anwar officiated the Seberang Perai ASPIRE Centre (SPACE), which serves as MBSP’s integrated operations centre aimed at strengthening smart city management through data integration, a smart complaints system, traffic monitoring, public safety as well as real-time urban services management.

SPACE was established as MBSP’s integrated operations hub to support smart city management and enhance the efficiency of service delivery to the public, while also functioning as the main platform for the systematic and technology-driven coordination of urban operations.

-- BERNAMA