KUALA LUMPUR, October 24, 2026 — Prime Minister Datuk Seri Anwar Ibrahim has urged Malaysian industries to strengthen their technological capabilities, research and development (R&D), and innovation to remain competitive amid rapid changes in the global economy.
He said the government and industry players must respond more quickly to evolving economic conditions and ensure policies are implemented effectively to support industrial growth.
Speaking at the 2026 Industry Excellence Awards (AKI) ceremony at Menara MITI on Friday, Anwar said economic planning should take into account the needs of different sectors and communities before developing policies that address the country’s broader priorities.
Anwar also stressed that economic growth and rising exports must translate into tangible benefits for all Malaysians, warning against allowing income inequality to widen despite strong economic performance.
He said development efforts must reach vulnerable communities, including those in Hulu Kelantan and Kapit, Sarawak, while maintaining the country’s core values.
The Prime Minister added that Malaysia could no longer depend on outdated economic approaches and must strengthen its industrial capabilities to compete internationally.
He highlighted artificial intelligence (AI) and other emerging technologies as critical areas for development, cautioning that Malaysia risked falling behind if it failed to capitalise on its talent and existing industrial strengths.
Anwar also emphasised the importance of close cooperation between the government and industry players in translating policies into effective action.
At the ceremony, he presented the Prime Minister’s Award, AKI’s highest recognition, to UMW Aerospace Sdn Bhd for its overall management excellence, product quality, sustainability practices and adoption of advanced technologies.
The event was also attended by Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani and Deputy Investment, Trade and Industry Minister Sim Tze Tzin.
-Bernama
