M'sia's GDP to hit a whopping RM2.6 trillion in 2030
Published on: Friday, May 22, 2015
Kuala Lumpur: Malaysia will remain an open economy, regionally and globally integrated post-2020, with Gross Domestic Product (GDP) almost doubling to a whopping RM2.6 trillion in 2030 from RM1.4 trillion in 2020.The economy will be dominated by knowledge-intensive and high-value added activities, generating high-income jobs."In 2030, more than 40 per cent of total employment will comprise of skilled workers compared with approximately 35 per cent in 2020," said the Economic Planning Unit of the Prime Minister's Department in the Eleventh Malaysia Plan (11MP).
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Hence, the 11MP is intended as a launchpad and foundation for the next stage of Malaysia's journey, it said in a chapter titled "Malaysia Beyond 2020"."In 2030, the GDP per capita is projected to more than double to RM117,260 compared with RM54,890 in 2020."The economy will be progressive, inclusive, sustainable and adaptable for the future with highly productive world-class cities and thriving rural areas," EPU added.World trade is estimated to grow to US$44 trillion in the next 10 years compared with US$26 trillion forecast for 2020.
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The global growth is expected to be driven by the emerging economies of Asia while the centre of trade will shift towards the East, it said."As the people of China and India prosper further, coupled with their large and growing affluent middle class, they will become major markets for Malaysian goods and services," it said, adding that Asean is expected to be the third pillar of Asia and the linchpin for Malaysian businesses to go global.
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Improved connectivity with Asean members will also boost investment, trade and tourism, as well as, cross border movement of talent.Stay up-to-date by following Daily Express’s Telegram channel.
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