Prime Minister Dato’ Sri Ismail Sabri has recently rolled out the Twelfth Malaysia Plan (12MP) for the period of 2021 to 2025, setting the direction to achieve a prosperous, inclusive and sustainable Malaysia. The 12MP is realising the spirit of ”Keluarga Malaysia” in which all parties embrace the principle of togetherness and moving forward to achieve national development and become a high-income nation.
The 12MP introduces a new transformative approach based on three themes, four catalytic policy enablers and 14 game changers. The twelfth plan is anchored on three key themes, namely:
- Resetting the economy – To restore the growth momentum of key economic sectors, industries as well as micro, small and medium enterprises (MSMEs).
- Strengthening security, wellbeing and inclusivity – To strengthen the healthcare system, improve access to affordable and quality housing, accelerate the development of regions and states and reduce the gap between urban and rural areas.
- Advancing sustainability – Advancing green growth, enhance energy sustainability as well as transform the water sector.
To support the key themes, four catalytic policy enablers have been introduced to form the foundations and building blocks of Malaysia’s development future. The four catalytic policy enablers are:
- Developing future talent – To promote labour participation, strengthen labour market support and elevate the quality of education and leverage emerging technology.
- Accelerating technology adoption and innovation – To enhance talent and skills required by 4IR and digital economy and intensify research, development, commercialisation, and innovation (R&D&C&I) activities.
- Enhancing connectivity and transport infrastructure – To provide efficient and inclusive transportation, improve trade facilitation and reinforce institutional and regulatory frameworks.
- Strengthening the public service – To transform the public service through the whole-of-government approach and optimise existing resources.
The summaries below provide a good overview of the Twelfth Malaysia Plan (12MP):
- PwC Centre Stage | Twelfth Malaysia Plan (RMK-12) Overview
- EY Take 5 For Business, Volume 9 Issue 4 | 12th Malaysia Plan 2021-2025 Sector Highlights
The executive summary of the Twelfth Malaysia Plan (RMK 12) is available here.
Full speech of the Twelfth Malaysian Plan (RMK 12) is available here.