Daim: SPV 2030 will eliminate poverty, but only if done properly

  • Nation
  • Wednesday, 27 Nov 2019

PETALING JAYA: Proper implementation is key to ensure the success of the Shared Prosperity Vision 2030 (SPV 2030) in alleviating poverty in Malaysia, says former finance minister Tun Dr Daim Zainuddin.

"I support it, but let's make sure that we implement it properly.

"We have to make sure that there is no corruption," said Daim, who is also the government's adviser, at a forum on poverty at Sunway University on Wednesday (Nov 27).

On Oct 5, Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said SPV 2030 would continue with efforts to achieve the 30% Bumiputera equity ownership target, a concept introduced in the New Economic Policy (NEP).

However, Daim said that he was unsure the origin of the 30% target for Bumiputeras under the NEP, a policy adopted in 1971.

"I don't know where the figure 30% came from, or whether there was a proper study.

"According to that time, 30% was the best figure, but no science (it's not scientific)," he said.

Under the NEP, the government aimed to raise Bumiputera equity ownership to 30% as part of its efforts to increase Bumiputera participation in the economy.

The NEP was formed in the aftermath of the May 13,1969 racial riots, which happened due to economic disparity between the different race groups.

On alleviation of poverty in Malaysia, Daim said that the way forward was to go big on agriculture and also put a strong emphasis on education for the youth.

Daim urged Malaysia to focus on its agri-food sector and diversify into other agriculture produce in order to boost the nation's source of income.

He added that the best investment for Malaysia would be in education for the youth.

"Give children the best education and the rest will take care of itself.

"Instil the spirit of competition from young, and teach them critical and logical thinking," he said.

He also added that eradicating poverty cannot be achieved unless all Malaysians shared the same mindset with policymakers and civil servants working towards the same goal.

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