SHAH ALAM - Holding a ministerial position for the first time did not seem to be a big deal for Rafizi Ramli.
As a former opposition, he revealed many leakages in the past government including corruption and mismanagement as well as his advocacy for lower petrol prices.
The Parti Keadilan Rakyat member had criticised the past government's move in 2014 to end petrol subsidies, arguing it would benefit oil companies and petrol station owners but not the Malaysian people.
As an Economy Minister, his policies are more to prioritise reducing income inequality, promoting institutional reforms and increasing economic competitiveness.
Here are the achievements unlocked by Rafizi so far in the Madani Government:
1. Agricultural Entrepreneur Initiative (INTAN)
Several IPR initiatives such as the Agricultural Entrepreneur Initiative (INTAN) were done with more involvement of ‘Strategic Partners’ to scale the programme bigger.
The Economy Ministry allocates RM100 million for 2023 for the implementation of the IPR-INTAN project through RFP by selected private companies. This initiative will be implemented by the 7 Corridor Authorities (PBK) and the State Economic Development Corporation (PKEN) responsible for managing the entire RFP process.
The direction of the corridor development was also discussed with the Corridor Authority (PBK) to set short and long-term corridor development targets.
IPR is one of the government's efforts through the Economy Ministry to eradicate hardcore poor in the country by targeting the capability of participants to generate income of at least RM2,000 per month.
2. Implementation of Progressive Pay Policy (DGP)
DGP is a joint venture of the Economy Ministry, the Finance Ministry, Investment, Trade and Industry (MITI) Ministry and Human Resources Ministry to increase the ratio of economic income given to workers in the form of salaries and compensation from 36 per cent to 45 per cent.
The implementation of the DGP needs to be accelerated because based on the revenue of the Statistics Department shows that in the First Half of 2023 82 per cent of 6.46 million formal workers received a salary of less than RM5,000 a month, while 35 per cent of them received only RM2,000 or less and more than 50 per cent of formal workers in the country received a salary below RM3,000 last March based on Employee Wage Statistics Report (Formal Sector) First Quarter of 2023
This effort also receives full support from the Malaysia Employers Association (MEF) in the implementation of the Progressive Salary Policy.
Salaries equivalent to living costs will help Malaysia move toward a high-income economy and reduce reliance on low-skilled workers, including foreign workers.
3. Platform Inisiatif Kemudahan Rakyat (IKR)
As of Aug 1,385 projects have been approved. The three highest state applicants are Sabah, Negeri Sembilan, followed by Sarawak.
A list of 1,385 applications has been submitted to the relevant local authorities or enforcement agencies for review prior to the distribution of funds is made.
4. Malaysia's inflation rate in July 2023 decreased to 2.0 per cent, compared to 2.4 per cent in June 2023
Rafizi as the Economy Minister works on the lowest rate of inflation since the Unity Government took over, indicating an overall price stabilisation trend.
Two integrated strategies were being devised by the Economy Ministry to bring down the prices of goods through a solid and sustainable solution. Among them are researching to reduce AP and Import permits and review of anti-monopoly and competition rules.
5. Digital leadership programme: Empowering the digital economy towards GovTech implementation
Economy Ministry produced the Executive Digital Leadership (EDL) programme, an innovative training for a period of 3 months. EDL, in collaboration with the Asia School of Business and global tech giants such as Google, Amazon, Microsoft, IBM and Shopee, is designed specifically for senior and right-wingers across sectors.
6. Academy in Industry (AiL)
AiL is an initiative by Economy Ministry to address the trend of young graduates who are not interested in continuing their studies at the university.
Applicants can be trained and work with 200 companies under AiL. Malaysia Skill Certificate (SKM) Certification in 9 to 18 months with a net salary around RM2000.
The government provides an allowance to move in for the cost of a rental house deposit. Rafizi in a statement expressed his hope that AiLpathway will ensure that young people not only possess SPM graduation but also equipped with technical skills and certificates that can be upgraded from diploma to degree.
7. Highest foreign investors since 2016
In July 2023, foreign investors contributed as much as RM12.7 billion to the national economy (the highest amount since March 2016) On Aug 10, we have recorded RM2 billion in equities and an impressive amount of RM11.4 billion in fixed income.
8. The National Energy Transition Direction Plan (NETR) Phase 1
Rafizi said NETR Phase 1 targets investment opportunities exceeding RM25 billion, 23,000 skilled and high-value job opportunities, as well as reducing 10,000 gigagrams of carbon dioxide emissions equivalent to a year.
The Energy Transition Index 2023 (Energy Transition Index) by the World Economic Forum (WEF) has placed Malaysia in the first position in Southeast Asia, while confirming the country's potential and readiness to attract global investments in the field of UN and green technologies to drive the energy transition.