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KUALA LUMPUR: The postponement of the presentation of the Twelfth Malaysia Plan (12MP) at Dewan Rakyat last year, due to the Covid-19 pandemic, has given the government an opportunity to refine the five-year development plan to reflect the current situation. .
Economic Affairs Minister Mustapa Mohamed said that the 12MP has now taken into account the enormous impact of the pandemic on the country’s economic landscape.
“We are engaging with various stakeholders to get their feedback on this document and due to the postponement we have been able to significantly improve it.
“In addition to addressing the impact of Covid-19, it also outlines the new direction for ministries,” he said.
Mustapa added that the 12MP has also taken into account some of the latest policies formulated by the ministries, such as the national entrepreneurship policy and the national unity policy.
In addition, he said that the postponement also allowed the government to update the country’s real gross domestic product (GDP) figure for 2020 and incorporate Malaysia’s digital economy plan (MyDigital) recently announced by Prime Minister Muhyiddin Yassin.
Mustapa said the 12MP would focus on addressing poverty, especially eliminating extreme poverty and reducing socioeconomic inequality through the implementation of more comprehensive and targeted programs.
It will also emphasize the bumiputera empowerment agenda to reduce the gap between bumiputeras and other races, as well as accelerate development in Sabah and Sarawak and other less developed states by improving the provision of basic infrastructure and facilities.
He also said that the 12MP would provide an ecosystem conducive to the development of micro, small and medium-sized enterprises (MSMEs), accelerate the adoption of advanced technology and digitization, and encourage quality investments by focusing on high-tech activities.
The 12MP also aims to accelerate the transition to the green economy to support the sustainable development agenda and make Malaysia a low-carbon country, he added.
Mustapa recently said that the 12MP will run once Parliament is allowed to sit.
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