Kuala Lumpur: The Ministry of Economy is in the final stages of preparing the 13th Malaysia Plan (13MP) document, which is set to be presented in Parliament next July, as announced by Deputy Minister Datuk Hanifah Hajar Taib. The 13MP will serve as Malaysia’s socioeconomic development blueprint for the period from 2026 to 2030, aligning with the MADANI Economy goals.

According to BERNAMA News Agency, Deputy Minister Hanifah emphasized the importance of the 13MP in ensuring Malaysia’s transition to a high-income economy within its timeframe. While concluding the debate on the Royal Address Motion in the Dewan Negara, she highlighted that the government will prioritize three main areas: bolstering the country’s fiscal standing through increased revenue and expenditure rationalization, discovering new growth sources, and implementing structural economic reforms.

Hanifah elaborated that the reform of the economic structure towards higher value-added activities is essential for Malaysia to achieve its high-income nation aspirations. In response to the global trade conflict between the United States and China and its impact on the national economy, the government is formulating strategies to tackle these challenges.

Key strategies include enhancing trade relations with both existing and new Malaysian trading partners. Furthermore, Malaysia aims to position itself as an attractive alternative investment destination for multinational corporations, allowing for diversification of trade, risk mitigation from global market instability, and improved integration into the global value chain.

Hanifah also noted that leveraging Malaysia’s participation in free trade agreements is crucial for boosting trade, securing preferential access to global markets, and minimizing tariff and non-tariff barriers.