: Implementing initiatives under the New Industrial Master Plan 2030 and applying to join BRICS are among the government’s strategies to overcome the effects of prolonged geopolitical conflicts.
He said these initiatives included strategies to ensure the continuity of the local industry supply chain in the face of future economic or global health crises. “This is proven when the Pioneer Index of Economic Indicators released by the Department of Statistics Malaysia in July 2024 showed the country’s economic performance recorded 5.2 per cent, reaching 115.1 points compared to 109.4 points in the same month of 2023.
Tengku Zafrul added that although the current geopolitical tensions do not have a significant impact on Malaysia in the short term, the government should not underestimate the long-term risks if the conflicts continue. He said MITI will continue to play a strategic role in strengthening the country’s resilience and competitiveness, especially in priority sectors such as semiconductors.