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

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