12MP national strategic plan to address challenges more creatively and innovatively - Mustapa

KUALA LUMPUR: The government will prepare a comprehensive plan for economic development and progress for the long term, while the focus is on efforts to address COVID-19, as well as reviving the country's economy.

Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed, said with that vision, the country's socio-economic development plan, the 12th Malaysia Plan (12MP) , was very important to provide a relevant strategic direction.

The Jeli MP said it was also critical to ensure that the country's economy could move through a stronger foundation.

“The 12MP highlights a change agenda in several key areas, including strengthening macroeconomic fundamentals and resilience, revitalising the economy to restore growth momentum and leveraging potential growth drivers for high technology.

“In addition, it also outlines plans to develop future skills, and pursue sustainability in green growth, invests in strategic infrastructure, improves inclusion and address regional imbalances, improves the well-being and unity of the people, and strengthen the public sector to ensure a more effective delivery system,” he added.

Mustapa said the 12MP was not only a continuation of Malaysia's previous development plan, but also able to ensure that the country faced challenges with more progressive, creative and innovative measures.

He explained that it was very important for Malaysia to look back at how it could do things better, including taking into account the approaches or best practices from more developed countries.

In the meantime, Mustapa said, the government greatly appreciated the views and recommendations of the World Bank, in the development of new policies, through the presentation of the World Bank report, Aiming High - Navigating the Next Stage of Malaysia's Development, which was published today.

"This World Bank report will help us explore the next steps, what Malaysia needs to do to maximise potential, to change its status from a middle-income economy to a high-income, and sustain growth after the COVID-19 pandemic," he added.