Prime Minister Datuk Seri Ismail Sabri Yaakob said Miti has succeeded in increasing foreign investment in the sector by driving economic growth through strategic investment incentives. — Picture by Miera Zulyana
KUALA LUMPUR, Dec 9 — The government through the Ministry of International Trade and Industry (Miti) has approved RM109.1 billion within the first 100 days of Keluarga Malaysia to increase foreign investment in the manufacturing sector, with the projected creation of 25,000 jobs.
Prime Minister Datuk Seri Ismail Sabri Yaakob said Miti has succeeded in increasing foreign investment in the sector by driving economic growth through strategic investment incentives.
Besides, said the Ministry of Plantation Industries and Commodities has increased exports in the agro-commodity sector with an export value of RM147.2 billion, raising the contribution to the income of the people and the country.
“Cognisant of the role of companies and entrepreneurs as the engine of economic recovery, the Ministry of Finance (MoF) has channelled RM3.3 billion through the Wage Subsidy payment initiative to assist the cash flow of small traders and enterprises, as well as small and medium enterprises (SMEs),” he said when officiating the first 100 Days of Keluarga Malaysia Aspirations programme here today.
The prime minister said the initiative had benefited 189,000 employers and 1.9 million employees.
The government has outlined six key thrusts in the pursuit to achieve the target of Keluargga Malaysia Aspirations, namely restructuring the economy, assuring national security and public order, enhancing social well-being, improving overall infrastructure, strengthening unity based on the Keluarga Malaysia model, and empowering service delivery.
Ismail Sabri said the success of the National Covid-19 Immunisation Programme (PICK) through the cooperation of the Ministry of Health and the Ministry of Science, Technology and Innovation has enabled the full opening of the economic sector.
“This is a fundamental ingredient in the process of reviving the macro-economy and people’s resilience, thus sowing the seeds of strong recovery when the country enters the fourth quarter of 2021,” he said.
Judging from Malaysia’s gross domestic product for the first nine months of 2021, he said a growth of 3.0 per cent was recorded compared to a contraction of 6.4 per cent in the same period last year.
“The latest figure of the unemployment rate dropped to 4.3 per cent in October 2021 compared to a peak of 5.3 per cent in May 2020. — Bernama