Sustained growth in per capita income ‧ Reach high income nation status before 2020
Date：2014/06/20
[Sinchew Daily] Since 2011 implement of Economic Transformation Programme (ETP) has gradually entered the track, Malaysia’s per capita income had climbed steadily from US$7,059 (RM22,827) in 2009 to US$10,060 (RM32,532) in 2013, representing a 42.5% growth during the period.
Government revenue increase
2013 Annual Economic Transformation Programme report noted that, if continues grow and no other interference, Malaysia is likely reaching of USD $10050 per capita income, be a high income country before 2020.
Report quoted a number of data noted that, after three years implementation of economic restructuring program, is being more mature. Including 12 National Key Economic Area (NKEA) and 6 Strategic Reform Initiatives (SRIs) in accordance with the plan. With uncertainty of external factors, gross domestic product still growing of 4.7%, government revenue increase and deficit reduction.
Under the 12 NKEA, government had exploring of 196 investment projects which involve of RM219.3 billion, will contribute RM144 billion to gross national income, and provide of 437,816 employment opportunity before 2020.
Improved of deficit situation
According to report, Malaysia government revenue increase of 38.1%, reach of 220.4 billion from 2010 to 2013. At the same time improved the deficit, last year inadequate financial has decease to 4%, this year target to further decrease to 3.5%, and hope to break even in 2020.
Last year personal investment reach of 161.1 billion
In the other way, strong domestic private consumption also successfully promote Economic Restructure Programme, the data show that consumer confidence with the transformation, lead an increase of 7.6% in personal consumption, accounting for 51.2% of GDP.
“The Malaysia stock market trading active in 2013 reflecting investor confidence, Malaysia KLCI rose high to 1,873 points".
In addition, Malaysia’s economic development investment has gradually shifted, nowadays private sector to be the leader. In the past 3 years, a lot of domestic and international fund flow into Malaysia. Last year private investment reached of RM161.1 billion and 20 million, over the target of RM148.4 billion.
“Nevertheless, public investment is still an important part of economic development, government will continue to provide infrastructure such as road construction, utilities, including 5 major economic corridor”.
The most suitable country for business, Malaysia ranked sixth
Malaysia’s transformation has also received international endorsement, reflected in the country’s improvement in key global rankings. These include the World Bank’s Doing Business Report 2014, which raised Malaysia’s global ease of doing business ranking to 6th in 2014 from 8th in 2013
“Encouraging result for 2013 Key Performance Indicator (KPI) average reached 102% and Strategic Reform Initiatives (SRIs) reached 95%. Will stay focused and to enhance the competitiveness.
Government focus on 4 reform measures
Performance Management Delivery Unit (PEMANDU) believe that, to achieve 2020 target, government should continue focus on 4 reform measures, including continuing transformation of government agencies, improve the productivity and accountability, let Malaysia companies launch of innovative product and increase the services to an international level.
“Continuously enhance the quality of national education, to make sure we meet the needed of human resource for national development”.
7 sector KPI overall compliance rate of 104%
2013 Government Transformation Programme annual report show that 7 national key result area’s KPI reached of 104%.
The report notes that in last year, the government build of 719km roads in rural area, benefiting 2.2 million residence in rural areas.
Last year, establish 70 1Malaysia clinic, this year target to add more 50 clinic, reach of 288 clinic
In education achievement, pre-school enrollment rate increased to 81.4%.
Although high crime rate in last year, but violent crimes reduced by 30% after the first 52 days implement of “Ops Cantas Khas).