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Friday June 11, 2010

PM tables 10th Malaysia Plan to power economy into First World status

After months of anticipation, the 10th Malaysia Plan (10MP) has been launched to propel the country towards becoming a high-income and high-productivity economy.

Gross national income per capita must increase to RM38,850 (US$12,140) by 2015. This requires achieving real GDP growth of 6% per annum.

Five strategic thrusts have been identified under the 10MP, which was tabled by Prime Minister Datuk Seri Najib Tun Razak at the Dewan Rakyat yesterday:

Designing Government philosophy and approach to transform Malaysia through the National Key Results Areas

> Implementing transformational measures, at the same time pursuing a social justice agenda

> The measures include the 1Malaysia concept, the Government Transformation Programme and the Economic Transformation Programme

Creating a conducive environment for unleashing economic growth

> Strategies based on specialisation are to be adopted, focusing on 12 national key economic areas

> Smart partnerships between the public and private sectors to drive the economic transformation agenda

Moving towards inclusive socio-economic development

> A high-level council led by the PM will see to the development of the bumiputra agenda.

> Those who are most economically vulnerable will continue to be given assistance to mitigate the impact of any subsidy reduction on their cost of living.

Developing and retaining a First World talent base

> A Talent Corporation will be established to attract and retain necessary skilled human capital

> Starting potential talents young by lowering the entry age of formal schooling from six years to five

Building an environment that enhances quality of life

> Ensuring a higher quality of life in urban areas with better public transportation systems and affordable housing

> Rural settlements will be streamlined to support an expanding urban-based economy and ensuring improved delivery of public services to rural areas

> More stories on the 10th Malaysia Plan

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