Tuesday, March 30, 2010

US$7000 to US$15000 in 10 years - realistic!

It is not a political mimic. Setting a target of elevating the annual per capita income from US$7000 to US$15000 in ten years sounds like what Mat Jenin has dream of but going through the thrust of the New Economic Model (NEM), it is within reach should all plans are engineered to accordingly. Prime Minister Najib Tun Razak who himself is an economist did not simply emulate the policy on simple calculations but one which has taken into account all aspects of the economic development.

Announcing the NEM today, the premier said the Model has taken into consideration the achievement of all races in Malaysia as not to allow any over-zealous implementation to flaw the 1Malaysia concept. The time has come for all sectors of the economy, every section of the community and all political parties to take part and support its implementation if the objectives are to be attained.

To create a highly-income nation (read Benama here), all government agencies and its implementing arms will have additional roles to play in assisting the GLCs, the private sector and foreign investors to deal with the grueling world economic situation. The rakyat, too will be provided with ample support in enabling them to participate in any kind of economic activities, not only to support their families but to boost the government effort in eradicating poverty, improving their income and enhancing their yield per investment.

He said that creating a high-income nation will mean higher wages throughout the economy as growth is derived not only from capital, but from greater productivity through the use of skills and innovation, improved coordination, stronger branding and compliance with international standards and intellectual property rights.

Najib lamented that 80 per cent of the workforce today have education only up to SPM qualification -- Malaysia's equivalent of the O-levels, which "is not in line with the high income economy that Malaysia aspires to be."

While the NEP's original policies are still relevant, it is time to review its implementation. "We will chase the same goals but transform the way we do things," he said.

The renewed affirmation action policy will be market-friendly, merit-based, transparent and needs-based. A notable point under the NEM was that a competitive and transparent tender process with set and clear rules for the whole Bumiputera community made up of both Malay and other indigenous groups was developed.

Thumbs up, Najib!

Also read NEM Proposes Malaysia lead Global Green Revolution
Also a commentary by BusinessWeek

18 comments:

ondastreet said...

Just a note though,
In the same day, it was reported that Malaysia is even losing knowledge worker..

In other words, we should already have some, but instead of keeping, we are losing them.. why?

Creating k-workers is one thing.. keeping them is also important..

Just my two cents...

~ OnDaStreet

Anonymous said...

The Form Five and Form Six results were just announced. No need to talk about quality. Out of the 500,000 students who sat for the SPM about 100,000 will migrate to pre-university classes.And from that crop only 25% will go on to tertiary education. On this score alone government is faced with a huge task of achieving the goals set out for per capita income increase. Good Luck.Ramalx

jabar said...

sounds very ambitious but with proper implementation and the participation of all levels of the society, it can be attained.

we just need to be more careful...

anak puyuh said...

memang ia bukan angan mat jenis tapi kita boleh gagal jika pelaksana segala projek dan rancangan tidak telus dan jujur dalam melaksanakannya.

kita masih jauh berbanding jepun, korea dan blok maju lain. apa yang perlu dipantau ialah jentera pelaksanaan yang selama ini banyak masalah dan dikelabui karenah birokrasi.

perancangan yang baik mestilah diikuti pelaksanaan yang terancang dan bersungguh-sungguh semua pihak

Anonymous said...

nothing can stop us in attaining the dream... except a corrupt govt and incompetent officials. its time to get cracking, irrespective of ideology. after all, its for the rakyat and our future generations

Anonymous said...

affirmative action, u say?

hard to buy all that!

Anonymous said...

dont talk only.

work hard for it.

leopard said...

in order to achieve high income, various efforts must be synchronized, not only to beef up production but to produce quality workforce.

malaysians are still depending too much on foreign workers while many of our people are still without proper job to support their living.

many dropouts from SPM each year adds to thep social problem. this neeeds attention too.

we cannot base our target on the big infrastructure implementation and the inflow of FDIs but we must also be cautious on the needs of the poor.

we may have big things on mind but if the standard of living for more than half of the population doesnt improve, we should accept the fact that we have failed.

bijan said...

we are seeing brain drain here. why? because specific knowhow is still not recognised by the locals.

if we are serious, we must address this first.

dont u know how many good malaysians have to migrate for good jobs?

si pitak said...

waaa.... soon the land in sg buloh will escalate in price.

better buy now, bro!

donplaypuks® said...

The reality is that to leap from PCI of $7,000 to $15,000, we would have to grow by a compounded anuual rate of about 8%!

When was the last time we did that? One hiccup and it's back to the drawing board!!

Also, factor in that many manufacturing bases are shifting to Vietnam and China. How is Najib going to respond and shift to an emphasis on a services based economy? What type of services especially since the ringgit is not freely floated or internationally traded and S'pore is fast cornering the financial services sector in Asia?

Less waffle and more details, please!

dpp
We are all of 1 race, the Human Race

Anonymous said...

bro,
i think bn will win hulu selangor by-election like this laaaaa

so clever la najib!

pencarum tua said...

memang kwsp mempunyai dana pelaburan islam kira2 rm7 bilion, kalau tak silap saya. ia boleh digunakan bagi pelbagai pelaburan, termasuk di luar negara seperti diumumkan oleh datuk seri najib.

bagaimanapun, kerajaan harus memastikan jenis pelaburan yang boleh disertai kwsp. kita tidak boleh bertindak semberono atau akan kehilangan banyak wang pencarum.

LEE LAP TIANG said...

lets wait and see who will benefit most from the plan, local or foreigners, the rich of the poor, govt friends or not, the ministers or not, their cronies or others, the urban or rural... etc

ali shahbana said...

orang kampung kurang paham pasal benda ni.

mereka cuma tahu kais pagi makan pagi, kais petang makan petang. taraf hidup tak berubah gak kalau anak2 tak masuk universiti dan kerja bagus.

dari dulu sampai sekarang, nikmat yang dikecap cuma jalan raya, jambatan, letrik dan air. semuanya yang asas.

tanam cili besar ke, ubi ke, pisang ke, keledek ke, agensi kerajaan yang janji tolong pun tak datang beli. orang tengah yang untung.

buat la rancangan apa pun, orang bandar dan yang kaya je beruntung, kawan2 orang dalam je yang dapat projek. kontraktor kampung kelas f terus merana, tak dapat projek walaupun yang bernilai 5 ribu. semuanya kena ada orang dalam. so, tak payahlah mengada-ngada suruh orang berniaga kalau dah ada pihak yang monopoli segala kerja dan bidang kontrak.

niat kerajaan memang baik tapi kalau pegawainya tak turun padang dan tgk sendiri masalah rakyat, takyah la susah2 bagi orang kampung tau pasal pelan ekonomi macam ni.

Anonymous said...

i only want to say something - enrich your friends and families!

budak sekolah said...

AKU TAK TAU APA DIA MODEL EKONOMI BARU NI.

KALAU MODEL IKLAN, AKU TAU LA. CANTIK2 SEMUANYA!

ELOK BANYAKKAN MODEL MACAM NI!

Anonymous said...

dun worry lah , 2012 is very soon man !!