“I believe we can achieve (the NIMP’s goals) if we have the political will and cooperation between the public and private sectors, especially at a time when many investors are fleeing from China to Southeast Asia.

“This is a golden opportunity for our economic resurgence. With our political stability, we have the chance to take advantage of the investors’ migration from China,” Liew said in his winding-up speech for the 12th Malaysia Plan’s (12MP) mid-term review at the Dewan Rakyat.

He was responding to Dzulkefly Ahmad (PH-Kuala Selangor) who asked about Malaysia’s ability to achieve the goals set out under the NIMP.

The four key missions of the NIMP are to encourage industries to innovate and produce more sophisticated products; embrace technology and digital transformation; push for net-zero carbon emissions and safeguard economic security; and inclusivity.

The NIMP also aims to raise the median wage in the manufacturing industry to RM4,510 from RM1,976, which falls below the national average.

Liew said Malaysia’s issue was not a lack of talent but low wages.

He reiterated that local talents would not hesitate to stay and work in Malaysia if they could be offered two-thirds of what employers in Singapore are paying.

“There is no talent problem in Malaysia, there is only a pay problem,” he added.