'Malaysia may become developed nation by 2018'

Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop (pic) said the country was capable of achieving Vision 2020 earlier based on the encouraging current economic growth rate.

"To become a developed nation, we need a per capita income of US$15,000 (about RM 46,409). At the moment, our per capita income is US$9,700 (about RM30,012). Our thinking is that if we can achieve an economic growth rate of above 5.3 per cent, we will be able to achieve Vision 2020.

"We are actually making the projection based on a 5.3 to 5.5 per cent annual economic growth rate from now until three or four years to come so that we can achieve Vision 2020 earlier, in 2018," he said after opening the annual general meeting of the Pengkalan Machang Fishermen's Association, here, today.

He said the government was always committed to planning and implementing development projects which could draw more investors to the country, hence boosting efforts to reach developed-nation status.

Nor Mohamed, who is also Tasek Gelugor member of parliament, said the transformation programmes mooted by Prime Minister Datuk Seri Najib Razak to benefit all levels of society could assist in generating economy.

"The government does whatever possible for the people and country based on its capability, expertise and experience. Our economic tranformation programmes towards becoming a developed nation are going on well.

"If there are marginalised groups, we undertake specific initiatives to assist them so that they can move forward in line with Vision 2020."

He said it was therefore important for Barisan Nasional to continue to be given the mandate to govern this country in order to realise the goal of becoming a developed nation by 2020, as economic and politial stability were crucial to achieving this.