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6 Changes of the Malaysia Ministry of Economic Affairs Shared Prosperity

Update Date:2019-6-26 17:19:19 Source:Tannet (Malaysia) Sdn Bhd Views:1137

Putrajaya (19th) After the Prime Minister Tun Mahathir proposed the "Vision of Sharing the Prosperity in 2030" after the first anniversary of the Pakatan Harapan, the Ministry of Economic Affairs proposed six major changes today. This includes the establishment of 50 local economic centers outside the Klang Valley to ensure a broader distribution of our economic growth.


The Minister of Economic Affairs, Dato Mohamed Azmin Ali pointed out that the vision is for the full benefit of the people. Therefore, the government hopes that the content of the vision will not be drawn up from the top down (i.e., formulated by the government to the people).


"We hope that people at the grassroots level, industry and social movements can also provide advice because it can answer and solve the needs of the people for the government."


He said in a statement today that the Ministry of Economic Affairs will hold a consultation meeting to ensure that the vision can serve as a vision for all people, including stakeholders, trade unions, businessmen and industry.


He said that after Tun Mahathir put forward the "Vision of Sharing the Prosperity in 2030", the Ministry took responsibility for promoting this vision and ensured that the vision could be implemented in the shortest possible time.


He said that the ministry is taking action quickly and will ensure that the "shared prosperity vision" is the philosophy and backbone of The Eleventh Malaysia Plan (11MP).


"The vision is not only to increase GDP, but also to the interests of the people, and the government believes that Malaysia's economic potential today has not been fully applied, and its ability to grow at least twice."



He pointed out that the vision will emphasize the talents of human resources and domestic SMEs, and will ensure that these potentials are best developed, and then the country's wealth can be more fully distributed and the people's income can be improved. Some classes, races or regions further narrow the economic gap between Malaysian.


He said that shared prosperity must ensure that the economic, income and participation in the supply chain of Malays, Sabah and Sarawak indigenous and poor people can be minimized to ensure that all people can truly share the country's wealth.


He is convinced that the seven strategies proposed by Tun Mahathir to share the vision of prosperity will achieve the goal of sharing prosperity.


The Ministry of Economic Affairs proposes six major changes


1.  Assisting the enterprise and industrial ecology, including the transformation of small and medium-sized enterprises, to cope with the process of industry 4.0, digital economy and smart economy, and then become a high-value industry and provide higher income for the people.


2. Develop national human resource transformations to provide more effective and valuable human resources, while also to ensure that the skills and vocational development centers in line with industry needs.


3.   Reducing reliance on foreign workers and ensuring that industry is transforming into high-value jobs and services that promise to generate higher incomes for employees.


4.   Identify 15 major incomes and push the economy to new areas of higher levels.


5.  Focusing on vulnerable economies and B40 low-income groups, we will formulate more reasonable people's aid policies and strategies to help them out of poverty.


6.  Set up 50 local economic centers outside the Klang Valley to ensure a broader distribution of our economic growth.



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