Boosting Economic Growth Among Key Challenges Under WKB 2030, Says Redzuan

KUALA LUMPUR – Enhancing economic growth, increasing the adoption of technology in the manufacturing and services sectors, and narrowing development gaps are among the major challenges to be addressed under the Shared Prosperity Vision 2030 (Wawasan Kemakmuran Bersama 2030 or WKB 2030), said Minister in the Prime Minister’s Department (Special Functions), Datuk Seri Mohd Redzuan Md Yusof.

Despite contributing nearly 79 percent to Malaysia’s Gross Domestic Product (GDP), the level of technology adoption in the manufacturing and services sectors remains relatively low—ranging between 20 to 37 percent, Redzuan noted.

He made the statement at the launch of MyNest Group Malaysia’s Industrial Business Action Plan 4.0 and 2020 Technology Blueprint on Tuesday. Also present was MyNest Group Malaysia Director and CEO, Datuk Chua Huai Gen.

Redzuan highlighted that the widening income gap between urban and rural households, which has nearly tripled over the past 27 years, is also a pressing concern. “The economic challenge is to ensure no group is left behind in sharing prosperity,” he said.

He stressed that WKB 2030 is vital for Malaysia to become a sustainably developed nation with equitable and inclusive economic distribution across all income groups, ethnicities, regions, and supply chains.

While WKB 2030 encompasses all Malaysians, certain priority groups will be given targeted support to improve their socioeconomic positions and ensure they are not excluded from national progress, he added.

On the action plan launched, Redzuan praised MyNest for becoming the world’s first bird’s nest producer to implement Industry 4.0 technology. He said the use of technology will not only enhance production output but also significantly reduce operational costs.

“With the help of technology, companies can boost competitiveness while reducing dependence on foreign labor,” he explained.

Redzuan added that advanced technologies being introduced will also raise the skill levels of local workers, particularly in managing and maintaining high-tech robotics, artificial intelligence (AI) sensors, and automation systems.

–Source