KUALA LUMPUR: Malaysia must look beyond semiconductors and microchips and embrace emerging technologies like blockchain to stay competitive in the global economy, says Prime Minister Datuk Seri Anwar Ibrahim.
In his speech at the Forum Ekonomi Malaysia 2025 here today, Anwar said the nation risks falling behind if it does not venture into new industries.
"Forums like this provide a platform for discussions, as I have also emphasised to the Chief Secretary to the Government that the government machinery must focus on developing strategies and solutions to strengthen our economic capabilities.
"This includes areas beyond semiconductors and microchips, such as blockchain, which should not only be explored but also treated as unavoidable realities.
"We need to explore new opportunities. While the semiconductor industry in Penang has been around for some time, we risk being left behind if we don't move into emerging fields," he said.
He added that Malaysia needs to work closely with other countries, as this would accelerate the nation's progress and boost economic recovery.
Anwar, who also serves as finance minister, highlighted the visits of several foreign leaders, including Indonesian President Prabowo Subianto, who arrived today.
He said discussions with Prabowo will focus on enhancing economic cooperation between the two nations.
"This includes partnerships with major Indonesian companies, Khazanah Nasional Berhad, and other leading Malaysian firms, particularly in the digital sector, which we are prioritising as part of our digital transformation efforts," he said.
Japanese Prime Minister Shigeru Ishiba is also set to visit Malaysia.
Anwar said both countries will discuss several issues, including trade, investment, and a "critical" energy transition plan.