RM260b push for developed status
Published on: Friday, May 22, 2015
Kuala Lumpur: The Government has set a ceiling of RM260 billion as development expenditure for the overall implementation of the 11th Malaysia Plan (11MP)from 2016-2020, by which time it is expected to attain developed nation status.The RM260 billion allocation is also higher than that for the 10th Malaysia Plan at RM230 billion.Prime Minister Datuk Seri Najib Tun Razak in tabling the 11MP in the Dewan Rakyat, Thursday, said the allocation would ensure the continued significant contribution from key sectors such as services, manufacturing, agriculture and small medium enterprises to the country's gross domestic product (GDP).
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"The 11MP is the final leap before we enter the realm of developed nations. "At that time, we should have a number of accomplishments such as a Gross National Income per capita of US$15,000."The national Gini ratio is expected to contract from 0.401 in 2014 to 0.385 in 2020," he added.In his hour-long presentation, Najib gave a reminder that a nation could not just be defined as developed from the aspect of per capita income, even though by international standard, this is the defined value.
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Under the 11MP, various projects have been planned to drive the capability of the people economy, by ensuring that urban and rural development complements each other.He added that various high impact infrastructure projects planned to achieve the status of a developed nation includes the construction of highways, the MRT and LRT facilities, power generation and water treatment plants and initiatives to expand broadband speeds.
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The government also plans to build 3,000 kilometres of paved roads in the rural areas between 2016 to 2020, as well as have access to water and electricity supply throughout the country enhanced to 99 per cent in 2020.Towards this end, more than RM10 billion has been approved for clean and treated water supply through the Rural Water Supply Project and RM3.0 billion to the Rural Electricity Project.In respect of public transport, the Klang Valley Mass Rapid Transit Line from Sungai Buloh to Kajang, the Sungai Buloh – Serdang – Putrajaya Line and LRT3, will all be undertaken under the 11MP."At the same time, new power plants to generate 7,626 megawatts of electricity will be built."Among them are three coal-powered plants in Johor, Perak and Negeri Sembilan, as well as two gas-powered facilities in Penang and Johor. "All this at an estimated investment cost of RM28 billion will create about 35,000 new job opportunities," said Najib.Other key infrastructure projects being implemented under the 11MP include construction of an airport at Mukah and Lawas in Sarawak, expansion of the Kota Baharu airport and improvements to Kuantan Port.The Padang Besar terminal will also be upgraded to further enhance the movement of cargo from southern Thailand for export through Port Klang, Najib highlighted. The Pengerang Integrated Petroleum Complex development will continue to implemented with an investment of RM53 billion in 2016. Meanwhile, Najib said the government has target investments of RM236 billion for the five regional economic development corridors and to generate 470,000 jobs.The corridors are Iskandar Malaysia, Sabah Development Corridor, East Coast Economic Region, Northern Corridor Economic Region and Corridor of Renewable Energy in Sarawak."Between 2011 to 2014, all five corridors succeeded in attracting committed investments of RM307 billion, with 57 per cent or RM175 billion realised, while generating more than 427,000 job opportunities," said Najib.To complete the Klang Valley development, a new integrated development project, Malaysia Vision Valley, in the north of Negeri Sembilan, will be created. Stay up-to-date by following Daily Express’s Telegram channel.
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