The Plan is structured around three main elements: dimensions (3), pillars (4), and priorities (17), of different scope and content. One of these dimensions, “a quality and inclusive life,” is a goal that is usually part of any self-respecting political program, with its main problem being not the “what,” but the “how,” which does not prevent it from being taken into account in a context like this. The same is true for two pillars, “increasing economic agility” and “accelerating the implementation of the public service reform agenda,” both crucial, if incorporated into the corresponding regulatory framework and then executed in a timely and proper manner, to provide a positive response to the needs of businesses and individuals. And, also, with three priorities, “increasing national productivity and competitiveness,” “reforming education,” and “transforming the labor market,” which are key to turning growth into development and making Malaysia one of the world’s 30 largest economies.

2. Macroeconomic Outlook

The macroeconomic outlook, based on the results obtained in 2024, is moderately ambitious, starting, of course, from the situation in which they were established, and not the current one, characterized by a geopolitical environment full of uncertainties, which will inevitably affect them to a greater or lesser extent. Be that as it may, confidence in the positive evolution of certain factors, such as domestic demand, foreign investment, and the secondary and tertiary sectors, and in the stimulating effect of an expansionary budget, with record spending figures to boost economic activities and structural reforms, allows for growth forecasts of between 4.5% and 5.5% annually for the gross domestic product; 6.0% for private investment; 5.8% for the secondary sector; 5.2% for the tertiary sector; and 5.5% for private consumption, compared to 5.1%, 6.5%, 5.1%, 5.8%, and 5.5% respectively for the 2021-2025 period.

Likewise, they allow for aiming for a per capita income of 77,000 ringgits (€15,586) in 2030, which will exceed the 54,000 ringgits (€10,930) of 2024, and an average monthly salary of 3,500 ringgits (€708) in 2030, which will improve upon the 2,602 ringgits (€526) of 2024. Alongside these forecasts, there are others worth mentioning concerning inflation, which is expected to remain low, at or below 3%, during this period; and the unemployment rate, which is trusted not to exceed 3% in 2030, which ultimately, if so, would equate to full employment. Finally, there are two other parameters, the fiscal deficit and public debt, which are expected to be contained, in the first case not to exceed 3% in 2030, and in the second not to exceed 60%, through improved fiscal sustainability via re-engineered governance, public spending supported by public-private partnerships, and efficient revenue management.

3. Investment Opportunities

Although the Plan contemplates significant investment opportunities in practically all sectors of the economy, these opportunities are greater in some, notably, to begin with, the energy sector, in accordance with the National Energy Transition Roadmap, which expects to attract about 25 billion ringgits (€5,073,152,500.00) in six key areas: energy efficiency, renewable energy, hydrogen fuel, bioenergy, green mobility for air, land, and sea transport, and carbon capture, utilization, and storage. And to continue, next with the digital ecosystem, which is intended to be deepened, using certain instruments such as governance, infrastructure, industry, and talent, as provided in the National Artificial Intelligence Action Plan 2030, which will offer greater possibilities to those who invest in information technology, telecommunications, e-commerce, and digital solutions.

In addition to these sectors, there are two others that are also worth highlighting: on one hand, the maritime economy, and on the other, infrastructure. In the first case, the goal of developing blue carbon and strategic maritime industries will involve considerable investments in green shipping, port infrastructure, maritime tourism, blue renewable energy, and advanced maritime technologies. And, in the second, the continuation of the transport infrastructure improvement program, with special attention to the construction and expansion of port terminals, highways, and railway projects, with new rail and road networks in Penang, Johor, East Peninsular Malaysia, Sabah, and Sarawak, or the Pan Borneo Highway and the Sarawak-Sabah link road, will help to give a new boost to connectivity and economic growth, providing, as in the previous cases, significant investment options for interested companies.

4. Public and Private Implications

In my opinion, the macroeconomic outlook mentioned earlier, however politically attractive it may seem, can only materialize if two fundamental circumstances concur: public involvement, on the one hand, and private, on the other. In the first case, through the simplification of laws and regulations and the reduction of administrative burdens, to minimize the legislative stock and improve operational efficiency, undoubtedly key aspects when it comes to regaining a certain credibility and transforming the regulatory framework and administrative system into a driver of competitiveness, not a drag. And, in the second, through improvements in new technologies and new processes that allow for tackling the main challenge of this Plan with certain guarantees of success: the transition to a high-tech, high-value economy, with advanced capabilities in areas such as artificial intelligence (AI) and information and communication technology (ICT).

5. Options for Spanish Companies

Antonio Bonet, president of the Exporters and Investors Club, in an article recently published in Expansión, dedicated to analyzing the “Opportunities for Spanish companies in the current international context,” draws attention to three of the most important structural changes—climatic, technological, and demographic—to which he adds a profound transformation of international economic relations, from multilateralism to protectionism. All this is bringing with it, indeed, I don’t know if irreversibly, but in any case real, a reconfiguration of national strategies, policies, and investments that Spanish companies must identify, explore, and leverage, with the one I have just briefly commented on, Malaysia’s Thirteenth Economic and Social Development Plan, being one to which they should undoubtedly pay attention. It’s not easy, of course, nothing is easy, but if the rest of the European companies are already doing it, why aren’t the Spanish ones?.