Malaysia focuses on rebuilding economy

07 Sep 2021

Malaysia is prioritising rebuilding its economy after the pandemic and ensuring the country is on a stronger footing with increased competitiveness. This is according to the Minister in the Prime Minister's Department for Economic Affairs, Datuk Seri Mustapa Mohamed. 

He stated the challenges faced by Malaysia over the past 18 months also represented an opportunity for the government to revise its future policies and strategies.

Mustapa said the government’s priorities over the coming decade include eradicating absolute poverty, increasing income, narrowing development gaps between regions and states and ensuring sustainable growth.

“Other priorities are creating a policy environment that is conducive to the private sector, investors both local and foreign; growth and development that is inclusive and resulting in more unity and cohesion in the context of Keluarga Malaysia (the Malaysian Family); and ensuring that the government delivery mechanism is enhanced to meet our developmental goals,” Mustapa said during his keynote address at “The 12th Malaysia Plan: Developing the Nation in the Spirit of Keluarga Malaysia” webinar on Tuesday.

The Minister went on to add that the Economic Planning Unit (EPU) had held extensive discussions with several stakeholders since April 2019 in formulating the 12th Malaysia Plan (12MP), which will be tabled on 27 September. 

“Like the five-year plans that came before, the 12MP will provide an overarching trajectory of the government’s development agenda. It provides a sense of direction to government agencies, the private sector, investors and the public at large on the overall policy direction of the Malaysian government,” he continued.

Mustapa also said the government is committed to making sure its policies consider the need to protect the country’s rich biodiversity for the benefit of future generations.