Malaysia rolls out RM611 billion plan to lift wages, cut deficit and power digital shift by 2030

[KUALA LUMPUR] Malaysia has launched a RM611 billion (S$186 billion) master plan to catapult itself into the ranks of high-income nations by 2030, with aggressive bets on artificial intelligence (AI), semiconductors and green energy as key growth engines.

Unveiled by Prime Minister Anwar Ibrahim on Thursday (Jul 31), the 13th Malaysia Plan (13MP) earmarks RM430 billion in federal development spending, alongside RM120 billion from state-linked companies and RM61 billion in public-private partnerships.

It outlines a five-year road map – spanning 2026 to 2030 – to raise per capita income to RM77,200, reach up to 5.5 per cent growth in gross domestic product, and slash the fiscal deficit to below 3 per cent. The blueprint, themed “Redesigning Development”, was tabled by Anwar in parliament.