KANGAR: Economy Minister Rafizi Ramli said the 13th Malaysia Plan (RMK-13) will emphasise on talent development in a bold attempt to develop skilled manpower as part of the Southeast Asian nation's strategy to bolster growth and enhance competitiveness in the global market.
"I believe that Malaysia's potential to become the region's economic powerhouse. There is no doubt about that, especially among investors," he told reporters at a press conference after attending a RMK-13 Engagement Session with civil servants in Perlis here today.
RMK-13 is set to be implemented from 2026 to 2030. Under the leadership of Prime Minister Anwar Ibrahim, it aims to spur economic growth and enhance the quality of its 34 million population.
Rafizi said to achieve the growth plan of a developed nation, a sound education was essential for building a skilled talent pool to fulfill investors demands.
"That is why RMK-13 will emphasise on talents development reformation. It will be a sensitive matter because it will require re-evaluation of the capability of our education system," he said.
Rafizi said Malaysia currently faced a challenge to provide sufficient skilled workforce to meet the demands of growing hi-tech investment flowing into the country.
"If we look at our performance in attracting new investment quarterly by quarterly is something to be proud of.
"However, the challenge for us is these investors are coming in to help propel our economy, they require talents that are capable to match with their technological level," Rafizi said.
The focus for the RMK-13 masterplan is no longer just about building infrastructures alone.
"We have indeed prioritised the need to attract high technology but in return, they (the investors) need talents foer the sector," he said.
Malaysia is a trading nation and its economy is heavily dependent on international trade. The country is the second largest exporter of palm oil in the world. It also has a strong manufacturing sector, exporting electronics, machinery and chemicals.