KUALA LUMPUR – Tan Sri Muhyiddin Yassin (Pagoh-Bersatu) has labelled the 12th Malaysia Plan (12MP) as a medium-term initiative that will help the country regain its status as an Asian economic giant.
The former prime minister said under the plan, the government must implement firm and bold economic initiatives to ensure Malaysia becomes a high-income nation by 2025, with a gross domestic product per capita increase from RM42,755 to RM54,843.
“Malaysia’s future must comprise programmes and projects that can spearhead the country’s output, employment and income within a short time,” he said during his debate on 12MP in the Dewan Rakyat today.
He said he supports the government’s plan to implement a high-speed railway connecting the northern region with Johor Baru.
The project will lead to increased employment opportunities, new businesses, and the development of residential areas along the route, he said.
Muhyiddin added that given Malaysia’s fiscal position, the government must embolden the private sector to be an engine of economic growth via public-private partnerships.
“This is because the private sector has a financial surplus, while the government has a deficit.”
He said the roles of government-linked companies and government-linked investment companies must be re-evaluated to optimise government assets, adding that GLCs should not compete with the private sector, but support local entrepreneurship and invest in high-impact industries, as well as discover new markets locally and globally.
On employment, he said Putrajaya must take proactive steps to ensure the nation achieves its target of creating 500,000 jobs this year.
“For now, 376,000 jobseekers have found work under government initiatives.” – The Vibes, September 30, 2021
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