Kuala lumpur: The Investment, Trade and Industry Ministry (MITI) has presented 11 initiatives to the Finance Ministry (MOF) for inclusion in the upcoming Budget 2027, which is set to be unveiled next month. Deputy MITI Minister Sim Tze Tzin emphasized the importance of prioritizing the semiconductor industry as a sector with high growth potential and the ability to generate employment opportunities for Malaysian citizens.

According to BERNAMA News Agency, one of the key proposals submitted by MITI involves a significant investment by the government in the semiconductor industry. This initiative aims to enhance Malaysia's position in high-value sectors, thereby fostering job creation. Sim revealed these details while addressing reporters at the MADANI Kita programme event held at Sekolah Menengah Kebangsaan Sungai Nibong.

The Dewan Rakyat calendar indicates that Budget 2027, themed 'Malaysia MADANI: Menggapai Di Langit, Mengakar di Bumi', is scheduled for presentation by Prime Minister and Finance Minister Anwar Ibrahim on October 9. In addition to the semiconductor focus, MITI has advocated for support to assist Malaysian companies, especially small and medium-sized enterprises, in accessing new and less explored international markets.

Sim elaborated on other proposals, which include initiatives to increase the use of technology in industries, thereby enabling a transition from low-value to high-value activities. He highlighted the need to expand the reach of Malaysian products into markets with limited presence, specifically mentioning Central Asian countries like Kazakhstan and Uzbekistan.

The proposed 11 initiatives consist of both new programmes and enhancements to existing ones, with ongoing programmes set to continue. Sim expressed hope that MOF would give due consideration to these proposals, emphasizing the importance of strategic investments in sustaining the nation's economic growth trajectory.