Malaysia unveils 2020 development vision

PM presents plan to become developed country with per capita income of $15,000, and middle class population of 45 percent.

Malaysia unveils 2020 development vision

World Bulletin / News Desk 

Malaysia unveiled Thursday a five-year 260 billion Ringgit (more than $72 billion) master plan aimed at elevating the country's status to a developed economy by 2020.

Prime Minister Najib Razak presented to parliament the 11th Malaysia Plan, which underlines strategies for becoming a developed country with a per capita income of $15,000. It envisions the eradication of extreme poverty and a middle class consisting of 45 percent of the population.

The five-year development blueprint starting 2016 has six strategic thrusts -- inclusivity, people's well-being, human capital, green growth, infrastructure and innovation and productivity.

In order to achieve these strategies, Malaysia says it would focus on six game-changers including increasing productivity, generating wealth through innovation and improving the percentage of the middle class. It would also develop a core of education and technical training, implement green growth and invest in competitive cities.

Among the plan’s highlights are the Kuala Lumpur-Singapore high-speed rail proposal and the creation of a Vision Valley comparable to the U.S.’s Silicon Valley.

It also aims to increase the average household income of the lower 40 percent of the population -- currently numbering 2.7 million households.

Güncelleme Tarihi: 21 Mayıs 2015, 14:14