10th Malaysia Plan

10th Malaysia Plan

Transforming Malaysia towards High-Income and High-Productivity Economy

The 10th Malaysia Plan (MP) which was tabled on June 10, 2010 by Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak incorporates initiatives in the New Model of Economic (NME) and Government Transformation Programme (GTP). The plan is a gear in transforming Malaysia towards becoming high-income and high-productivity economy as well as realising the Vision 2020.

The five-year plan (2011-2015) with a total allocation of RM230 billion has put a major portion on economic sector (RM126 billion or 55 per cent), while the rest is for the social sector (RM69 billion or 30 per cent), security sector (RM23 billion or 10 per cent) and general administration (11.5 billion or five per cent).

The key target in the 10th MP is to increase gross per capita income to RM38,850 in 2015 and this requires achieving a real domestic products growth rate of six per cent per annum. To enable this, private sector will be fuelled as economic growth leaders while agriculture will be revitalised to add higher value to goods as well as adopting biotechnology, information communication technology and other relevant technologies.

Towards transforming a high value services and productivity, the 10th MP has allocated 40 per cent for non-physical infrastructure compared to only 21.8 per cent in the 9th MP. The non-physical infrastructure includes the development of high-quality human capital especially in improving skills and knowledge.

The 10th MP has outlined five strategic trusts. The first trust is to design Government philosophy and approach to transform Malaysia through the National Key Result Areas (NKRA). The second trust is to create conducive environment for unleashing economic growth, while the third is to move towards inclusive socio-economic development. Whereas, the fourth is to develop and retaining a First World talent base and the fifth is to build an environment that enhances quality of life.

The plan, which carries the theme ‘Towards Economic Prosperity and Social Justice’, will make Malaysia a competitive corporation internationally. In the era of globalisation and liberalisation, Malaysia can no longer depends on the low-cost structure and have to be relevant in order to compete with countries such as China, India, Brazil, Russia, the Middle East and countries in the region who have also intensified the competition for trade and investment.

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