Government Unveils Coordinated Economic Vision to Drive Growth
KUALA LUMPUR, 25 March 2025 – The Malaysian government has officially announced the formulation of a National Economic Strategy and the establishment of the National Governing Coordination Committee (NGCC). The Madani Government unveils Coordinated Economic Vision to enhance the country’s economic resilience and long-term growth prospects.
This announcement, made by Minister of Investment, Trade and Industry (MITI), Tengku Datuk Seri Zafrul Abdul Aziz, outlines a comprehensive approach to streamlining economic policy implementation across ministries, ensuring alignment with national goals, and future-proofing Malaysia’s competitiveness in the global landscape.
What Is the NGCC and Why It Matters
The NGCC will act as a central platform to coordinate economic policies and initiatives, reduce policy overlaps, and expedite execution. It will report directly to the Cabinet and involve multiple ministries and agencies under a single economic governance framework.
“The NGCC is not just another committee. It is a governance platform to ensure policy coherence and timely implementation. Every economic initiative must deliver impact,” said Tengku Zafrul during the press briefing at MITI headquarters.
National Economic Strategy: A Long-Term Vision
The National Strategy is aimed at transforming Malaysia into a more dynamic, digitally enabled, export-oriented economy, with a strong focus on:
- Investment facilitation and retention
- Digital transformation of industries
- Environmental, Social and Governance (ESG) compliance
- Supply chain resilience and diversification
- Upskilling of the local workforce
Tengku Zafrul emphasized that the strategy is being designed with cross-ministerial and private sector input, ensuring it is grounded in both policy and practicality.
Realigning Economic Goals with Global Shifts
The government’s move comes amid a rapidly evolving global economy. Trade realignments, shifting geopolitical alliances, and the rise of automation and AI have placed new pressure on developing economies like Malaysia.
“We must respond to the world not just as it is, but as it is becoming,” said Tengku Zafrul, citing recent developments such as supply chain de-risking and climate-linked trade regulations by global markets.
Governance for Growth
MITI has confirmed that the first draft of the National Strategy will be tabled by Q3 2025, with stakeholder town halls and online engagement platforms to gather industry and citizen feedback. The NGCC is already operational and will serve as the backbone of execution monitoring.
The establishment of the NGCC and the unveiling of a long-term National Strategy mark a turning point in Malaysia’s economic governance. It reflects a serious push to modernize, harmonize, and energize Malaysia’s path to becoming a competitive, inclusive, and resilient economy.
Stay tuned with ForwardMalaysia.my for exclusive insights and in-depth coverage on Malaysia’s evolving economic roadmap.
