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

World / 6d

Bangkok floods: The real pain starts when waters recede

Malaysia / 2w

Anutin’s first year: Restoring Thailand’s political status quo

Malaysia / 4w

Northern Malaysia must prepare for the consequences of lower rainfall

Opinion / 1mth

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

Malaysia / 1mth

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

Malaysia / 1mth

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

Spotlight

Malaysia

Immigration busts international scam syndicate operating from unused Kuantan resort

Malaysia

Malaysia prevents RM1.9b in scam transactions as BNM targets real-time fraud alerts

Malaysia

Parental involvement crucial in tackling school bullying, says PM as cases hit nearly 5,700

Malaysia

19-year-old female student strangled to death in Kuantan following quarrel; boyfriend arrested

Malaysia

Loke slams 10 Negeri Exco members for ‘backstabbing’ Tuanku Muhriz

Malaysia

Vandalism at mosque: Blaming the MADANI govt ‘unfounded and ridiculous’ (video)

By Alfian Z.M. Tahir

Malaysia

MOHE: 1.16 million PTPTN borrowers owe RM10.7b in outstanding repayments

Malaysia

Police: Statements recorded after 13-year-old student sustains severe injuries in three-storey fall

You may be interested

Business

Oil prices ease as Middle East exports recover towards pre-war levels

Business

Tabung Haji posts record RM4.64b profit on stronger investment performance

Business

Middle East conflict puts Malaysian SMEs under growing financial pressure - BNM

Business

Oil supply risks mount as Brent tops US$102 on threat of Middle East shipping routes disruption