KUALA LUMPUR (Oct 7): The Dewan Rakyat passed the 12th Malaysia Plan 2021-2025 without amendment on Thursday, after four days of debate and a winding-up session that spanned three days by the ministries.

Dewan Rakyat passes 12th Malaysia Plan by voice vote

The Institute for Democracy and Economic Affairs (IDEAS) has lauded the many aspects of the 12th Malaysia Plan (12MP) tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob earlier on Monday, which include an expansionary fiscal approach, its focus on the people’s well being and unity, as well as on advancing sustainability.

IDEAS: Private-led growth should also be promoted under 12MP

The 12th Malaysia Plan (12MP) aims to position Malaysia as the ASEAN digital centre, given the country’s strong capability in cyber security solutions and digital content production.

12MP seeks to position Malaysia as ASEAN digital centre

The 12th Malaysia Plan (12MP), a roadmap for the country’s development from 2021 to 2025, has set a target annual gross domestic product (GDP) growth of between 4.5% and 5.5% for the five-year period.

12MP targets annual GDP growth of 4.5%-5.5%; GNI of RM57,882 by end-2025

In the 12th Malaysia Plan (12MP), priority will be given to improve national security and safeguard sovereignty in ensuring the nation remains peaceful and prosperous. Meanwhile, healthcare service delivery, provision of quality and liveable affordable houses will be improved.

According to the 12MP (2021-2025) report tabled in Parliament by Prime Minister Datuk Seri Ismail Sabri Yaakob on Monday, sports will be leveraged to build an active nation, while unity among the people will be enhanced. This is in line with the Shared Prosperity Vision 2030 and 2030 Agenda Pembangunan Mampan.

12MP: Strengthening national defence and security, well-being of the people

During the 11th Malaysia Plan (11MP), various efforts were implemented to raise income and uplift the well-being of the people. Ten selected targets were targeted in enhancing inclusiveness towards an equitable society and improving the well-being of all, but only one target was achieved, while four others recorded significant progress.

12MP: Addressing poverty, building inclusive society

The water sector will be restructured to enable it to be a significant contributor to national growth and wealth creation through the Water Sector Transformation 2040 (WST 2040), a 20-year agenda outlined in the 12th Malaysia Plan (12MP) report.

12MP: Water sector to be restructured via 20-year transformation agenda

True to expectations of higher public spending to rejuvenate and revitalise the economy post Covid-19, total development expenditure under the 12th Malaysia Plan (12MP) (2021-2025) is the country’s largest-ever at RM400 billion — 54% more than the RM260 billion originally allocated under the 11MP (2016-2020).

12MP: RM400b development expenditure, fiscal balance -3.5% to -3% of GDP in 2025

Putrajaya is exploring the possibility of introducing a dedicated tax to fund poverty alleviation programmes as part of efforts to transform its approach in eradicating hardcore poverty by 2025 while ensuring that all Malaysians enjoy a decent standard of living, according to the 12th Malaysia Plan (12MP).

12MP: Dedicated tax to fund poverty alleviation programme mulled

During the 11th Malaysia Plan (11MP), various efforts were implemented to accelerate development in Sabah and Sarawak. Despite these efforts, development imbalances persist. Key issues include gaps in the provision of infrastructure and services, limited access to social services, challenges in security and public safety, as well as lack of progress in inclusive development.

12MP: Enhancing socio-economic development in Sabah, Sarawak

During the 11th Malaysia Plan (11MP) period, Malaysia’s economy grew at an average annual rate of 2.7%, driven mainly by the services and manufacturing sectors. The local economy, however, was affected by external headwinds and a slowdown in the global economy, especially in 2020. The Covid-19 pandemic disrupted the global value chain and domestic economic activities.

12MP: Restoring growth momentum via five focused sectors

Malaysia will implement a low-carbon, clean and resilient development plan to achieve sustained socio-economic growth, according to the 12th Malaysia Plan (12MP) report.

12MP: Nation to implement low-carbon, clean and resilient development plan

Last year, Malaysia’s gross national income (GNI) per capita was US$10,111 (RM42,503) — 20.4% below the minimum threshold to achieve a high-income economy set by the World Bank at US$12,696 for 2020.

12MP: Malaysia’s 2020 GNI per capita 20% below the threshold of a high-income economy

KUALA LUMPUR (Sept 28): Minister at the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed has disputed claims by opposition leader Datuk Seri Anwar Ibrahim that the Economic Planning Unit (EPU) had paid over RM2 billion to consultants to complete the 12th Malaysia Plan (12MP) report.

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