KUALA LUMPUR: Malaysia is well-positioned to advance Asean's economic prosperity and regional integration by leveraging its resources and digital infrastructure, bolstered by a stable government and effective policies, said the Ministry of Finance (MoF).
In its Economic Outlook 2025 report, the MoF said the country will foster greater collaboration among Asean members to harmonise policies, standardise regulations and improve cross-border trade, ultimately creating a stronger Asean.
Malaysia can contribute to a more resilient, inclusive and prosperous Asean by addressing challenges and capitalising on opportunities.
“Leveraging Malaysia's chairmanship of Asean in 2025, the government will focus on strengthening regional collaboration in areas such as electrical and electronic (E&E), artificial intelligence (AI), medical tourism as well as environmental, social and governance (ESG) initiatives.
“Malaysia will introduce the Asean Community Concept 2045 to enhance cooperation among member states, rally Asean solidarity, bridge divergences and promote greater harmony, ultimately promising economic prosperity for the region.
“Furthermore, the upcoming chairmanship reflects Malaysia's journey towards realising the Madani Economy aspirations of becoming a leading Asian economy,” it said.
The E&E industry in Malaysia serves as one of the major contributors to the nation’s gross domestic product (GDP), investment and employment – with its strategic location and comprehensive infrastructure, Malaysia offers access to a global market of over four billion people through various free trade agreements.
At present, Malaysia accounts for 13% of the global semiconductor testing and packaging market and ranks as the world's sixth-largest exporter of semiconductors, constituting 60% of the country's total E&E exports.
Under the 12th Malaysia Plan 2021-2025, the government has set a target for the E&E industry to contribute RM120 billion to the nation's GDP by 2025.
On the government's AI efforts, it said driven by increasing interest from major global technology players, Malaysia is gaining momentum to emerge as the next Al hub in the region.
Microsoft has pledged to invest US$2.2 billion (RM9.5 billion) over four years to accelerate Malaysia's digital transformation, including building cloud and AI infrastructure, creating Al skilling opportunities for 200,000 people and establishing an Al Centre of Excellence.
Oracle has also expressed interest in investing US$6.5 billion to establish a public cloud region in Malaysia.
Asean demonstrated solid foreign direct investment (FDI) inflows, valued at US$165.1 billion during the pre-Covid-19 period, of which Malaysia received investments worth US$7.8 billion. Post-pandemic, FDI surged substantially, reaching US$223.5 billion in 2022, with Malaysia's share increasing more than twofold to US$16.9 billion – these trends highlight not only Asean's resilience as a prime investment destination but also its strategic significance in global value chains. – Bernama
Source: The Sun Daily
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