Manufacturing Sector Drives Perak Economic Growth – Saarani

IPOH, 4 Sept (Bernama) -- The manufacturing sector remained the main driver of Perak’s economy, expanding 5.1 per cent in 2024 and contributing 19.4 per cent to the state’s gross domestic product (GDP).

Perak Menteri Besar Datuk Seri Saarani Mohamad said the sector’s strength, outlined in the Perak 2024 Socioeconomic Report, helped lift the state’s overall GDP growth to 4.4 per cent, valued at RM86.2 billion, compared with 2.7 per cent a year earlier.

He said the performance showed Perak was on the right track in pursuing more inclusive and sustainable economic development.

“This achievement underscores the fact that manufacturing is the key driver of investment, job creation and the state’s competitiveness,” he said at the Federation of Malaysian Manufacturers (FMM) Perak 57th Anniversary Dinner here last night.

Also present were Perak State Committee chairman for Tourism, Industry, Investment and Corridor Development Loh Sze Yee, FMM president Tan Sri Soh Thian Lai and FMM Perak chairman Chua Kay Lin.

Saarani said the state government remained fully committed to broadening collaboration, including with FMM, to address challenges in the manufacturing and industrial sectors.

He said such efforts would benefit not only the state government but also industry players who form the backbone of Perak’s economy.

“I believe with the shared commitment of the state government, the federal government, industry through FMM and the people, Perak can become a model of a modern, sustainable and competitive industrial state, not only for Malaysia but also as a reference point for Southeast Asia,” he said.

On the labour market, Saarani said indicators showed improvement, with the state’s unemployment rate easing to 3.6 per cent, while labour force participation rose to 66.56 per cent.

“Skills initiatives are beginning to show results, with Perak’s average monthly wage rising to RM2,973 in 2023 and maintaining an upward trend,” he added.

-- BERNAMA