Business

RM85.1 bil of M’sia’s GDP in 2020 from commodity sector

Palm oil industry alone contributes RM48.3 bil, says minister

Updated 5 years ago · Published on 09 Mar 2021 11:58AM

RM85.1 bil of M’sia’s GDP in 2020 from commodity sector
The Perikatan Nasional government is hoping to regain control of manpower in the agricommodity industry, which is dominated by foreigners, by replacing them with locals. – File pic, March 9, 2021

KUALA LUMPUR – The commodity sector and commodity-based products contributed RM85.1 billion to Malaysia’s gross domestic product (GDP) last year.

Plantation Industries and Commodities Minister Datuk Mohd Khairuddin Aman Razali said of the amount, RM48.3 billion was contributed by the palm oil sector.

“Knowledgeable and skilled human capital is needed to ensure the commodity sector performance remains sustainable.

“This factor is important to boost productivity of the commodity sector and generate revenue for the country,” he said at the launch of the virtual Agricommodity Career Carnival 2021 today.

The carnival – jointly organised by the ministry and Social Security Organisation (Socso) under the Human Resources Ministry – focuses on several commodity sectors, namely palm oil, rubber, timber, kenaf, cocoa and pepper, and offers more than 60,000 job opportunities.

Khairuddin called on locals to seize the opportunity to snatch up suitable jobs through the carnival.

“The ministry will continue to work with Socso to help the agricommodity industry in getting the manpower it needs by giving priority to locals, including Orang Asli,” he said.

The carnival is also in line with Perikatan Nasional’s policy to regain control of manpower in the agricommodity industry – currently dominated by foreigners, who account for 75% of workers – by replacing them with locals. – Bernama, March 9, 2021

Related News

Opinion / 5d

Massive attacks in the Thai Deep South aimed at destroying the economy

Malaysia / 1w

Malaysia records 6% GDP growth in Q2 despite global headwinds, says Sim

Malaysia / 2w

Six per cent growth proves Malaysia's economy remains resilient - PM

Opinion / 2w

LHDN’s uneven hand: Tough on MSMEs, soft on the shadows

Opinion / 3w

Lessons From Negeri Sembilan - Charles Santiago

Opinion / 4w

The last dredge

Spotlight

Malaysia

Desa ParkCity deaths: Netizens voice concern, call for increased enforcement, crackdowns on scammers

Malaysia

Seven Yemenis arrested over dangerous stunt on KL road

Malaysia

UMNO gives state leaders mandate to negotiate electoral pacts

Malaysia

Sultan Selangor warns against greed, abuse of trust

By Alfian Z.M. Tahir

Malaysia

Form Six students to get allowance from 2027

Malaysia

Desa ParkCity deaths: Wife believed to be victim of love scam, say cops

Malaysia

Saravanan's letter will be referred to MACC, relevant authorities - PM Anwar

Malaysia

Thirteen arrested after teen girl dies in suspected gang-related road attack in Kulai

You may be interested

Business

Malaysia’s international reserves stand at US$132.07b in July

Business

ASM 2 Wawasan declares seven-year high payout of 5 sen a unit

Business

Property developer, Matrix Concepts sets RM1.8b FY2027 sales target

Business

Robo.ai swings to positive equity after US$46.7m first-half profit

By Alfian Z.M. Tahir

Business

Questions over traceability of nearly 77,000 tonnes of K8 cargo at Tanjung Langsat

Business

Petronas revenue jumps 15% to RM152.4b as energy investments lift first-half earnings

Business

Oil prices fall as Hormuz reopening hopes offset Iran tensions