KUALA LUMPUR (Dec 5): The value added gross domestic product (GDP) for the manufacturing sector increased to RM97.4 billion in the third quarter of 2024 compared to the same period in 2023, said the Ministry of Investment, Trade and Industry (Miti).

The ministry said the amount showed an increase of 5.5% or RM5.1 billion from the RM92.3 billion recorded last year.

"Since the New Industrial Master Plan 2030 (NIMP 2030) was launched over a year ago, Malaysia has achieved impressive success in the manufacturing sector.

"The number of jobs also increased by 1.4% or 40,000 in the third quarter of 2024 compared to the same period last year," it said in a written reply on the Dewan Negara website on Thursday to a question by Senator Dr A Lingeshwaran on the achievements of the NIMP 2030 so far.

Miti said the median salary also increased by 5.6% or RM145 to RM2,745 in the first half of 2024 compared with the same period in 2023, which was RM2,600.

In addition, Miti said several projects and flagship initiatives under NIMP 2030 have also started and are showing progress.

Among them is the launch of the National Semiconductor Strategy (NSS) in May 2024, which has successfully attracted investments of RM34 billion involving 22 semiconductor-related projects.

Also starting and showing progress are chemical and petrochemical based products which recorded an investment of RM3.1 billion between January 2024 and August 2024, compared with RM1.7 billion in the same period in 2023, making it the country's fourth largest investment subsector.

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