Putrajaya sets aside RM260 billion to achieve developed nation status

Datuk Seri Najib Razak arrives at Parliament with the 11th Malaysian Plan in his hands. – The Malaysian Insider pic by Afif Abd Halim, May 21, 2015. 

Putrajaya today outlined its strategies to ensure Malaysia becomes a developed country in five years with a per capita income of US$15,000 where, among others, hardcore poverty is eradicated and 45% of the population are middle class.

It announced that it was allocating RM260 billion to achieve these aims through a set of policies under the 11th Malaysia Plan (11MP), which begins next year till 2020.

The 11MP, a five-year development blueprint, has six strategic thrusts namely inclusivity, people's well-being, human capital, green growth, infrastructure and innovation and productivity.

In order to achieve these strategies, Putrajaya would use six game-changers: increasing productivity; generating wealth through innovation; improving the percentage of the middle class; making a core out of education and technical training; implementing green growth; and investing in competitive cities.

The plan was tabled by Prime Minister Datuk Seri Najib Razak in Parliament today.

Among the highlights of the plan are:

- The KL-Singapore high speed rail, as well as the Klang Valley MRT and LRT3 projects;

- Power plants to generate a total of 7,626 megawatt electricity will be built, among them are three coal plants in Johor, Perak and Negri Sembilan, and two gas plants in Penang and Johor. These will involve a cost of RM28 billion and create about 35,000 new jobs;

- A National Productivity Blueprint will be drawn up and a National Productivity Council will be established to underline the direction and comprehensive actions to drive productivity;

- RM1 billion allocation for Skills Development Fund, up from the current RM500 million.

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- TMI