Malaysia Can Achieve Truly Developed Nation Status By 2020, Says PM Najib

KUALA LUMPUR, April 27 (Bernama) -- Prime Minister Najib Razak has expressed confidence that Malaysia can achieve truly developed nation status by 2020 under the National Transformation Programme, but it will be an uphill battle that requires dedication and the undivided support of both the public and private sector, as well as, the people. He also cautioned against complacency that could derail the 2020 goals in view of the fierce competition for investments and new trade rules that clearly signify the survival of the fittest in an increasingly tough global environment. Although NTP through the Government Transformation Programme delivered "big fast results" in public service delivery over the past three years and the Economic Transformation Programme (ETP) spurred private sector participation in the economy, he said there were challenges to be overcome. "These achievements do not mean we can rest on our laurels. We must accept that the race for the best investments and an insatiable appetite for growth exists in most if not all countries," he said in the National Transformation Programme Annual Report 2015 launched Tuesday night. "With constantly changing rules and new trade forces such as the Trans-Pacific Partnership Agreement coming into play, the next five years will be an uphill battle, but a battle I am convinced can be won on the back of the very same reason and dedication that has taken us through the last six years," said Najib, who is also Finance Minister. The Prime Minister also complimented public and private sector efforts combined with the people's support in realising the goals of the NTP. "Leveraging upon measures both inclusive and sustainable, programmes under the NTP are in various stages of progress towards the realisation of goals required to deliver us at the doorstep of our 2020 deadline," said Najib. He also said the NTP has been an instrumental catalyst in improving public service delivery through the GTP and reshaping the dynamics of public-private sector cooperation through the ETP. ETP, through the Strategic Reform Initiativess (SRI), has managed to create a favourable business environment to facilitate business growth. "The public sector, working hand in hand with private sector players continue to push the envelope to deliver on committed targets through intense monitoring of key performance indicators and a recursive problem solving approach," he said. Besides the 5.0 per cent growth last year, another laudable achievement was the successful implementation of the Goods and Services tax (GST) despite earlier scepticism which "proved to be timely in creating financial buffers for the country as we grappled with dramatically dropping oil prices that affected national coffers, he said, in reference to prices having dipped to historic lows of US$30 per barrels just a few months ago. Prices have now increased to an encouraging US$45 against an upbeat sentiment that the global supply glut might be easing. Najib said that the government was also sensitive to the people's welfare, notably the rising costs of living, which was why it introduced several programmes at providing relief to the rakyat (people). They include the targeted cash assistance delivered through BR1M (1 Malaysia people's aid scheme), BB1M (1 Malaysia Book Vouchers), as well as the BKAP1M for students. -- BERNAMA