KUALA LUMPUR (Jan 9): Malaysia aims to become the region's conduit for electricity, talent, and supply chain diversification, while also strengthening its position in oil and gas, semiconductors, and Islamic finance this year, said Prime Minister Datuk Seri Anwar Ibrahim.
“In 2025, we want to double down on our geographical centrality as a conduit for electricity, talent and supply chain diversification.
"At the same time, we want to refine our expertise in oil and gas, semiconductor, and Islamic finance, so we can be global market leaders in each field.
"It’s our neutrality and openness for partnerships that make us a natural hub for all,” Anwar said during the keynote address for the Malaysia Economic Forum 2025 on Thursday.
Interconnecting power grids in the region is a key strategy in strengthening Southeast Asia's energy security, and Malaysia is poised to play a pivotal role in this endeavour, said Anwar.
On the Asean Energy Grid, Anwar emphasised the importance of this initiative, which involved the several cross-border power interconnections, including Thailand, Malaysia and Singapore.
Another example he mentioned is the undersea cable connecting Sarawak to Peninsular Malaysia and Singapore, which he sees as a crucial project for advancing Asean's cohesive fierce and energy goals.
On strengthening its position in the semiconductor sector, Anwar had said last year that Malaysia aims to attract at least RM500 billion worth of semiconductor investments.
To support the agenda, the government will offer RM25 billion worth of incentives to attract foreign investors to boost the local semiconductor sector, and train up to 60,000 Malaysian engineers to help meet industry demand.
This ambitious plan aligns with Malaysia's broader vision of economic leadership in a changing global context, such as decline of hegemonic powers and rising isolationism, said Anwar.
“But as the superpowers retreat from responsibilities towards economic isolationism, building walls of protectionism, while still chanting the mantra of a rules-based world economic order, we are seeing a divergence opening.
" And that is the rare opportunity to recalibrate policy positions towards economic pluralism, cooperation across multilateral platforms, and decisions infused with a moral conscience,” added Anwar.
“Malaysia’s chairmanship of Asean comes at this opportune moment.
"As Asia becomes the centre of the global economy, Asean is projected to be the fourth largest economic bloc in the world. The lion’s share of global growth will stem from a combination of Asean, India and China. Resulting in a burgeoning middle class and a growing influence over decision-making,” he added.
Anwar also emphasised Malaysia's commitment to economic leadership by focusing on fundamental principles such as high growth, low inflation, and fiscal discipline.
“Economic leadership is about getting the fundamentals right. It is sticking to the prerequisites of high growth, low inflation, and fiscal discipline,” he said.
“As a means to also advocate for the values that undergird our economic structures. Of equity, energetic populous, and entrepreneurship vigour — this is our values-based growth,” he added.
Last year, Malaysia successfully tamed inflation, reduced unemployment and stabilised our currency, he noted.
“We have had record highs in job creation but also the best performing stock market in Asean. Internationally, our foreign direct investments are historic and are region-leading in the areas of semiconductors and data centres,” he said.