KUALA LUMPUR: Malaysia is making progress towards becoming a high-income country through new policies and approaches outlined in the Mid-Term Review of the 12th Malaysia Plan (12 MP) and in line with the Madani Economy framework.
Experts and analysts have praised the initiatives in the MTR of the 12MP, stating that they are comprehensive and address the needs of people from all walks of life.
According to Associate Prof Dr Irwan Shah Zainal Abidin from Universiti Utara Malaysia, the mid-term review of the 12MP is a comprehensive plan with a different focus and approach, and achieving its goals is not impossible.
Prime Minister Datuk Seri Anwar Ibrahim presented the mid-term review of the 12MP, titled ‘Malaysia Madani: Sustainable, Prosperous, High-Income’, at a special meeting of the Dewan Rakyat, emphasizing its importance in driving the country’s development and empowering its people.
The 12MP mid-term review includes 17 significant measures, 71 strategies, and initiatives that aim to accelerate socioeconomic development in line with the Malaysia Madani aspiration.
To make Malaysia’s economy more sustainable, inclusive, and competitive, some experts believe that more immediate attention should be given to issues such as income, basic food supply, and educational opportunities.
Prof Dr Azmi Hassan from Akademi Nusantara acknowledged the improvements made in the 12MP mid-term review, particularly in technology, innovation, and the digital economy. He also highlighted the increased allocation of RM15 billion, reflecting the government’s commitment to achieving all the planned initiatives.
Economic analyst Datuk Dr Madeline Berma highlighted the importance of the newly established 12MP MTR Special Monitoring Committee, which aims to ensure effective implementation and achievement of the goals within the set timeframe.
The 12MP mid-term review is aligned with the Madani economy, focusing on three main areas: becoming a high-income country, developing a prosperous society, and strengthening sustainability and governance.
Dr Oh Ei Sun from the Singapore Institute of International Affairs sees the 12MP mid-term review as a springboard for Malaysia’s recovery and regaining its glory. However, he emphasizes the need for more participation from small and medium enterprises to generate job opportunities.
To address its middle-income trap and create a peaceful society, Malaysia aims to improve people’s livelihoods and ensure integrity in government spending. The successful implementation of the plan is crucial.
Credit: The Star : News Feed
