Malaysia To Prioritise Rebuilding Economy To Be On Stronger Footing

·2-min read

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the government will prioritise the rebuilding of the country’s economy to place the nation on a firmer footing with a more competitive economy.

He noted that the challenges faced by Malaysia over the past 18 months opened an opportunity for the government to review its strategies and policies, reported Bernama.

Some of the government priorities for the next 10 years include raising income, reducing development gaps between states and regions, eliminating absolute poverty and ensuring quality growth that is sustainable, revealed Mustapa.

“Other priorities are creating a policy environment that is conducive to private sector, investors both local and foreign; growth and development that is inclusive and resulting in more unity and cohesion in the context of Keluarga Malaysia; and ensuring that the government delivery mechanism is enhanced to meet our developmental goals,” he said at “The 12th Malaysia Plan (12MP): Developing the Nation in the Spirit of Keluarga Malaysia” webinar.

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The minister shared that the Economic Planning Unit has been preparing for the 12MP, extensively engaging with various sectors as early as April 2019. The 12MP is set to be tabled on 27 September 2021.

“Like the five-year plans that came before, the 12MP will provide an overarching trajectory of the government’s development agenda. It provides a sense of direction to government agencies, the private sector, investors and the public at large on the overall policy direction of the Malaysian government,” he explained as quoted by Bernama.

Mustapa added that the government remains committed to making sure that the policies always considers the need to preserve the rich biodiversity of the country for the benefit of future generations.

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