Dato Sri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy) says some of the vulnerabilities and weaknesses exposed by this crisis are certainly not new but this is an opportunity for the government to reform the economy.
“Some of the vulnerabilities and weaknesses exposed by this crisis are certainly not new. Hence, it is imperative that the Government take this opportunity to reform the economy and “build back better”. Indeed, this is what we are doing.
“In the context of building back better, the 12th Malaysia Plan (12MP) aims to ensure that we can achieve high-income status by 2025. At the same time, we have to focus a lot more on issues related to sustainability in order to ensure that we can become a carbon-neutral country at the earliest in 2050,” he says.
The Plan will also provide more balanced development across regions and states to ensure that the fruits of development are fairly shared by our citizens.
According to Mustapa, who was speaking at the Perdana Leadership Forum: Business In The New Normal, the government will intensify its efforts to help MSMEs, especially small business owners by implementing income-raising and capacity building programmes in urban and rural areas, as well as by encouraging entrepreneurship and access to financing facilities.
At the same time, the government will also further enhance access to education, healthcare and housing, and improve the quality of life for the urban poor, especially in PPRs.
“In addition, the government’s priorities in the next five years include increasing incomes, eliminating absolute poverty, and reducing development gaps between states and regions, as well as ensuring quality growth that is sustainable,” he says.
He notes that in the context of building back better, the 12th Malaysia Plan (12MP) aims to ensure that Malaysia can achieve high-income status by 2025.
“At the same time, we have to focus a lot more on issues related to sustainability in order to ensure that we can become a carbon-neutral country at the earliest in 2050. The Plan will also provide more balanced development across regions and states to ensure that the fruits of development are fairly shared by our citizens,” he says.
He says the government agencies, the private sector, investors, and the public at large must work together on the overall policy direction of the Malaysian government.
“We should all work together in shifting the Malaysian economy into a higher gear. Ladies and gentlemen, I am pleased to note that in preparing the Plan, the Economic Planning Unit has extensively engaged with various stakeholders as early as April 2019.
“Going forward, we will continue to work closely with all stakeholders to create a more prosperous, inclusive, and sustainable Malaysia.”
