ACCCIM Press Releases

1 Sep 2023



The Associated Chinese Chambers and Industry of Malaysia (ACCCIM) stands ready to support a “Whole-of-Nation” approach to implement New Industrial Master Plan (NIMP) 2030, which has mapped out a comprehensive industrial direction, strategies and enablers aimed at positioning Malaysia for new growth catalytic sectors and industries in the decades ahead.

As the economic complexity and dynamic global landscape continue to evolve rapidly, the rolling out of New Industrial Master Plan 2030 is timely to overhaul our industry strategy and investment framework to power Malaysia’s industrial sectors next take-off so as to remain competitive nationally and internationally.

The plan has clearly identified major sectors (electrical and electronics products, chemicals and petrochemicals, digital economy, aerospace, and pharmaceuticals, including medical devices as well as EVs) that could help enhance future production and exports of more complex and high value-added products. All sectors will be driven strategically to embrace sustainable practices (ESG) and reduce greenhouse gas emissions.

Senator Tan Sri Dato’ Low Kian Chuan, President of ACCCIM said that manufacturers, especially SMEs have to accelerate technology adoption to digitize and automate operations to maximise output, minimizing costs and defects as well as increase productivity to remain competitive. Competitive pressure will see sweeping changes in manufacturing with the powerful levers coming from robotics, AI and basic IoT digitization. Tan Sri Dato’ Low urges companies must not resist investing in smart technology, digitalization and automation to lower costs of labor, and increase productivity and output.

We support the action plans to mobilize the financing ecosystem, including the introduction of NIMP Strategic Co-Investment Fund and NIMP Industrial Development Fund, as well as develop a platform to show all available funding options, including raising businesses’ awareness about their availability and better visibility of all funding options. It is, therefore, necessary to broaden the range of financing instruments available to SMEs and entrepreneurs.

Swift actions must be taken to review and address the manpower planning and development programs to support economic industrial sectors. These include the supply of skilled manpower; adaptation; reskilling and upskilling of workers that are future proof, including the hiring of foreign talent to supplement domestic pool of workforce.

While we support the implementation of a multi-tiered levy model (MTLM) to reduce overdependency on foreign workers, the levy increases must not be too steep as it would have an undesirable impact on their business cost.

An effective implementation of one-stop center is a crucial investment facilitation mechanism whereby the relevant Ministries, states, agencies and local authorities are coordinated at a single point to provide prompt, efficient and transparent services to investors. Hence, ACCCIM said that it is important to ensure end-to-end support throughout the project for committed investments. These include investor-relationship management, navigating regulatory procedures, and assistance in securing land, among other activities. We need a pragmatic approach to monitor and track the progress of the proposed action plans and mission-based projects.

Overall, ACCCIM expects the NIMP will spur more Domestic Direct Investment (DDI) and Foreign Direct Investment (FDI) in Malaysia. A strong value proposition and focus investment-promotion activities to targeted investors, companies and sectors can help Malaysia raises the ceiling and the floor as outlined in Ekonomi Madani framework.

ACCCIM office bearers were invited to the launch of the New Industrial Master Plan 2030 today. From left were Dato’ Tan Tian Meng, Tan Sri Low Kian Chuan, Datuk Ng Yih Pyng and Datuk Koong Lin Loong.


6th Floor, Wisma Chinese Chamber, 258, Jalan Ampang, 50450 Kuala Lumpur, Malaysia.


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