Kuala lumpur: 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 emphasized that the country's economic fundamentals are increasingly strong and should be bolstered by comprehensive digital transformation policies, including smart city development at the local authority level.
According to BERNAMA News Agency, Anwar highlighted the need for Malaysia to establish a clear economic direction to avoid being stuck in the so-called middle-income trap. He explained that other countries have faced similar challenges, advancing to a certain stage before stagnating. Malaysia's approach involves policies under the industrial master plan and digital transformation. Anwar shared these insights while officiating the Seberang Perai Aspire Centre and Community Outreach Programme at the Seberang Perai City Council complex.
The event was attended by 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 also serves as Finance Minister, noted Malaysia's emergence as a leading investment destination for high-technology sectors. Companies like Infineon Technologies, Nvidia Corporation, and Google have chosen Malaysia as a regional hub, which underscores the need for significant improvements in human capital through skills training, upskilling, and reskilling.
The Prime Minister further elaborated that Penang holds a strategic advantage in the semiconductor sector, and the Seberang Perai City Council is pioneering the translation of the smart city concept into action despite financial constraints. Anwar also mentioned the country's encouraging economic performance, with the strengthening of the ringgit and increased investment and trade reaching RM3 trillion, showcasing nationwide confidence and commitment.
Earlier, Anwar inaugurated the Seberang Perai ASPIRE Centre (SPACE), which serves as an integrated operations centre for strengthening smart city management. SPACE aims to enhance service delivery through data integration, a smart complaints system, traffic monitoring, public safety, and real-time urban services management. The centre supports the systematic and technology-driven coordination of urban operations, functioning as a key platform for smart city management.