Investment, trade and industry minister Tengku Datuk Seri Zafrul Abdul Aziz addresses what looks like rather feeble fiscal backing for Malaysia’s New Industrial Master Plan 2030 (NIMP 2030).
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00:00 We are budgeting for this 94.6 billion over the period of seven years. And of course we
00:08 are going to have an NIMP, Industrial Development Fund, and we have the Co-Investment Fund as
00:14 well. So we would not have the kind of monetary or fiscal support that the US has, or even
00:23 some countries in Europe. You see how Germany and all that. In fact, Germany said they will
00:27 build a plant for you. They don't only come and incentive, "Come, come, I'll build it
00:32 for you." So our competitive advantage. So when I speak to the EU ambassadors, they say,
00:36 "How do we compete?" I say, "No, you have to understand, Germany, for example, there
00:42 are cost disadvantages, not just labour costs, other costs, energy costs is so high, so they
00:49 have to compensate by other things. Whereas Malaysia, I mean we know, labour cost is cheap
00:55 in a way, talking about engineers, and then land cost is cheap, infrastructure cost is
01:01 cheap, utility cost is cheap. And we are seen as a neutral country.
01:07 [END]