KUALA LUMPUR, June 20 — Malaysia is entering a new phase of economy based on high technology, semiconductors, innovation and artificial intelligence (AI), said Prime Minister Datuk Seri Anwar Ibrahim.

However, he stressed that the Madani Government will continue to ensure that every development project brings fair and equitable benefits to the people, safeguards the interests of local communities and strengthens the country’s competitiveness.

“Malaysia is stepping into a new phase of economy based on high technology, semiconductors, innovation and artificial intelligence.

“However, no matter how great or sophisticated the pace of technology, our focus remains on humans to produce a generation that not only has skills and expertise, but also values, kindness and responsibility to build a prosperous and resilient society,” he said in a post on X.

Anwar, who is also the Finance Minister, said meaningful development is not just about raising investment figures or accelerating growth, but ensuring that the results of progress are felt by all levels of society.

He said the Setia Fontaines Industrial Park project in Kepala Batas, Penang is very important because it will guarantee quality job opportunities, expand skills training opportunities and embody development in areas that have not enjoyed growth on par with other areas.

SP Setia Bhd has achieved another milestone by starting the development of the Setia Fontaines Industrial Park in Bertam, covering an area of 509 acres, which is part of the Setia Fontaines development covering an area of 1,691 acres, offering light industrial, medium industrial and commercial lots for small and medium enterprises and multinational companies.