Malaysian PM Mahathir Unveils Reforms in Mid-term Review of Five-year Economic Plan

//Malaysian PM Mahathir Unveils Reforms in Mid-term Review of Five-year Economic Plan

Malaysian PM Mahathir Unveils Reforms in Mid-term Review of Five-year Economic Plan

Malaysian Prime Minister Dr Mahathir Mohamad unveiled the bold reforms during the Mid-Term Review of the 11th Malaysia Plan including putting the country on a stronger economic footing and improving governance.

In his foreword to report issued on Thursday, the Prime Minister said other reforms  were accelerating innovation, boosting productivity, moving industries up the value chain, enhancing the wellbeing of the Malaysian people, particularly the bottom 40% of the household income group (B40), and achieving inclusive growth.

“Therefore, bold reforms that respond to the people’s mandate are imperative to achieve our vision to become a developed and inclusive nation,” he said.

Dr Mahathir said the Mid-Term Review, with new priorities and emphases, targets to reform existing policies and outline the revised socioeconomic targets for 2018-2020.

The Mid-Term Review included the aspirations of the new Government, current economic challenges and global trends. Efforts will focus on stimulating economic growth, while ensuring greater benefits for all segments of the society.

“In this regard, the principles of good governance, strong institutions as well as integrity and accountability will be reinforced throughout the administration of the new government to prevent corruption, leakages, misappropriation and abuse of power,” he said.

Meanwhile, Minister of Economic Affairs Datuk Mohamed Azmin Ali said the first part of the Mid-Term Review assesses the performance of the first two years of the 11MP, under the Barisan Nasional Government.

Azmin also said the Mid-Term Review outlines six pillars to support inclusive growth and sustainable development.

The first pillar is to reform governance towards greater transparency and enhance efficiency of public services, followed by the second pillar to enhance inclusive development and the wellbeing of the rakyat.

The third pillar aims to pursue balanced regional development, while the fourth pillar is to empower human capital. The fifth pillar focuses on enhancing environmental sustainability through green growth.

The last pillar lays the foundation to strengthen economic growth across all sectors of the economy.

Source: The Star

Read the full article here.

2018-10-19T02:43:09+00:00