In presenting the 12th Malaysia Plan mid-term review, Prime Minister Datuk Seri Anwar Ibrahim reported that the public sector investment is set to expand by 6.4% annually or by about RM301 billion per year.
This comes as the economic growth environment remains conducive with the government expecting inflation to hold between 2.8% to 3.8% yearly.
Prime Minister Datuk Seri Anwar Ibrahim also said 12 “big bold” measures and 71 key initiatives had been introduced to ensure success in achieving the targets.
“The 12MP MTR will continue to strengthen the national and people’s development agenda towards the goals of the Madani Economy,” he said when tabling the 12MP MTR in the Dewan Rakyat on Monday.
“To give a clearer picture, the tabling will be explained in detail through 12 affirmations that are the essence of the 12MP MTR, and structured via three main focus areas,” he said.
Anwar said the government had targeted a jump in economic growth of at least 5% per year during the 12MP by focusing on two main objectives.
These include strengthening productivity by accelerating the transition to high-value industries, and embracing advanced technology and enhancing skilled talent.
The government also intends to make Malaysia the preferred destination for investors by strengthening competitiveness, said Anwar.
He said the government will strengthen sectors and industries, with high growth and value, to accelerate the economic structure reforms which cover five areas, namely industries based on the energy transition, industries based on technology and digital, high-value electrical and electronic industries, agricultural and agro-based industries, and rare earth industries.
Anwar said the National Energy Transition Roadmap (NETR) had identified 10 strategic and high-impact flagship projects, with an expected investment of RM25 billion, creating 23,000 high-quality job opportunities, and reducing 10,000 gigagrams of carbon dioxide equivalent per year.
