11MP Unveils Malaysia's Effort Towards Developed Nation Status In 2020

By Muna Khalid & Sharifah Hunaini Syed Ismail KUALA LUMPUR, May 22 (Bernama) -- The tabling of the 11th Malaysia Plan (11 MP) Thursday unveiled Malaysia' preparedness to become a developed nation through its own formula within the next five years. The essence of the comprehensive 11MP has allayed the misgivings of certain parties that it would derail Malaysia's journey towards achieving developed nation status, at a time when the nation was being bogged by various issues, especially in economics, following the shrinking Ringgit and a drop in petrol prices, as well as a challenging political scenario. The 11MP, with its theme "Growth Centred on the People" contained six core strategies and six change catalysts covering all aspects to place Malaysia on the right track towards achieving developed and inclusive nation status in line with Vision 2020. Deputy Head of the Economic and Management Cluster, National Council of Professors, Prof Dr Jamal Othman said the strategies outlined in the 11MP for the period 2016-2020 is seen as comprehensive and one that covered all necessary aspects for Malaysia to attain developed nation status. However, he said, to achieve the objective, the mechanism to implement the five-year plan must be closely monitored by the government, such as the effort to increase household income in the bottom 40 per cent (B40) and move it into the middle class category. "Existing institutions must be strengthened. For instance, there are about 200 Farmers' Associations which represent one million farmers throughout the country. Most of them are in the B40 group. The government must see how these Farmers' Associations can shoulder the responsibility to increase the income of this group." Speaking to Bernama here Thursday, he said the government should adapt the planning in the 11MP according to current economic situations. Meanwhile, the Rector of the Kolej Universiti Insaniah (Kuin) Prof Mohd Yusof Kasim said the per capita income of US$15,000 (RM52,500) a year which would place the country on par with other developed nations was not difficult to attain as the per capita income now was US$12,000 (RM42,000). He said the strengthening of human capital through the government's emphasis on technical and vocational education and training (TVET) in the five year plan was in line with the objective of becoming a developed nation which required a highly-skilled work force. -- BERNAMA