PUTRAJAYA: The government will focus on implementing the MADANI Economy, focusing on restructuring the economy and enhancing the rakyat’s quality of life starting this year, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said the year-old MADANI administration had introduced the MADANI economic framework in 2023 to drive the economic direction of the nation.
Amir Hamzah said the government, through the MADANI economic framework, aimed to raise the ceiling — rebuilding the Malaysian home by regionalising businesses, transforming the economy and increasing national competitiveness — so that the economic pie distribution is fair and equitable to the people.
“This includes efforts made by the government such as bringing in foreign direct investment through various programmes and missions,” he said in his first press conference since being appointed to the Cabinet on Dec 12, 2023, here today.
Amir Hamzah also highlighted domestic investors’ key role in boosting the country’s economy.
“The government’s efforts are to balance foreign and domestic investors, while the Ministry of Finance will continue to bring all parties together to act as a catalyst for growing the economy,” he said.
Amir Hamzah said the government is also looking at types of investments through the New Industrial Master Plan 2030 and hopes to bring in new sectors and increase returns in terms of employment.
He said the government will also raise the floor — improve the quality of life of the people to create quality and inclusive income opportunities — by enhancing the provision of services, especially education, health, and basic infrastructure, as well as a wider social protection system.
“Raising the floor hinges on the employment rate and the government has introduced a unique progressive wage policy. It is important for the people to get better wages because it helps to create a multiplier effect and further stimulate the economy,” he said. – Bernama