Kuala Lumpur:The opposition has put forward a proposal to establish a national entity aimed at managing rare earth elements (REE) as a means of generating national wealth in the post-petroleum era.

According to BERNAMA News Agency, Opposition Leader Datuk Seri Hamzah Zainudin emphasized the need for such an entity to prevent the undervalued sale of non-radioactive raw materials, estimated to be worth over RM800 billion, and to curb illegal mining activities. He proposed the creation of REENAS to oversee these resources comprehensively, from exploration to downstream processing.

Hamzah also advocated for Malaysia to transition from merely selling cheap electricity to foreign data centers to becoming a regional energy leader. He suggested exporting clean energy, owning regional grid infrastructure, and developing energy technology. Additionally, he urged the government to consider constructing nuclear power reactors to secure a stable electricity supply, supported by a detailed roadmap and timeline.

In the technology sector, Hamzah proposed the establishment of a National Sovereign Data Centre and the enactment of an Artificial Intelligence (AI) Governance Bill. He highlighted the expected 18-fold increase in data center usage by 2040 and stressed the importance of storing sensitive government data domestically, with encryption keys managed by local agencies.

Meanwhile, Hamzah expressed support for the government's continuation of social assistance programs such as the Rahmah Cash Contribution (STR), Rahmah Basic Contribution (SARA), and Rahmah Sales, which have helped alleviate the cost-of-living burden for citizens.

To tackle challenges related to the new RM2,000 minimum wage, Hamzah recommended creating a Micro, Small and Medium Enterprises (MSME) Incentive Fund through the Social Security Organisation (PERKESO) and offering corporate tax relief to employers who increase workers' wages. He noted that exemptions for MSMEs are largely theoretical, as small employers risk losing workers to larger companies, and called for government support in sharing the cost of this wage transition until company productivity can sustain the new levels.