The government will allocate RM400 billion for existing and new development projects says Prime Minister Datuk Seri Ismail Sabri Yaakob while unveiling the 13th Malaysia Plan (12MP).
Ismail Sabri also says the development blueprint will determine the country’s strategic direction in economic growth, equal distribution of wealth and environmental issues.
The 12th Malaysia Plan (12MP) has the objective of transformation of the nation into ‘a Prosperous, Inclusive and Sustainable – Keluarga Malaysia’ during the five years (from 2021 until 2025) of the plan.
Tabling the 12MP in the Dewan Rakyat, Ismail Sabri says it was developed at a time when the world is facing when the severe challenges brought about by the Covid-19 pandemic.
“Many among us, Keluarga Malaysia, are affected. Under this new environment and norms, there are those who perished (from the virus) and that they are those who have become unemployed.
The government guarantees to reduce bureaucracy, provide quality infrastructure and strengthen the ecosystem to support private investment to help economic growth.
The growth of high-impact strategic industries and medium and small-medium enterprises will be given a boost.
Here are our top highlights of the 12MP:
1. More high-skilled jobs to be created by attracting high-technology new investments, encouraging industries to shift to automation and mechanisation in production, limiting the entry of low-skilled foreign workers, enhancing industries-academia collaboration. Reducing foreigners presence in the Malaysian workforce to a maximum 15 per cent
2. PM calls for companies, individuals to help Malaysians out of poverty through aid-giving such as zakat, wakaf.
3. New programmes, funding to improve Bumiputera businesses’ sustainability to hit 15 per cent contribution to GDP by Bumiputera micro, small, medium enterprises in 2025
5. At least 30 per cent Bumiputera corporate equity has not been achieved yet. To introduce a safety net for sustainable Bumiputera equity ownership, where Bumiputera companies or Bumiputera shares are only offered and sold to other Bumiputera consortiums, companies or individuals.
6. With the women’s workforce participation rate targeted to hit 59 per cent in 2025, improved services for childcare and elderly care at reasonable costs to encourage more women to return to work or remain working. To further develop women entrepreneurship, encourage online businesses. Civil and Shariah laws to be enhanced to deal with women-related issues. Introduction of gender empowerment framework.
7. PM gives commitment for Malaysia to be a neutral carbon country as early as 2050, says no new coal power plants will be built. Several gas power plants in Peninsular Malaysia to replace coal power plants. Renewable energy generation (solar, biomass, biogas) is targeted to increase to 31 per cent of all installed capacity in 2025.
8. Government targets digitalisation of government services or end to end online services to be improved to 80 per cent in 2025. Government departments, agencies to be restructured to reduce bureaucracy. Government to improve selection and intake of managing officers and professionals to get the best talent. Study proposal to introduce a law for clearer separation of powers and responsibilities between members of administration and civil servants.
