The Future – Vision 2020: Malaysia

The current direction of policy formulation is the Vision 2020 in which the Prime Minister articulated the need for Malaysia to attain the developed country status by 2020. This involves the need to absorb greater technology and sophisticated skills especially in the high-tech industries to allow Malaysians expand per capita income to developed country levels. It is also expected that the economy must be competitive and resilient in order to face increasing globalization. Malaysia has therefore to increasingly subjected itself to market disciplines in order to increase overall efficiency and competitiveness. The demands of trade liberalisation either through WTO or through AFTA will make it imperative for Malaysian enterprises to be increasingly prepared to face competition in the market place.

It is  in  this context that future planning for growth and equity has to take place. The first is the need to reduce support and subsidies and involve the target groups in the production process based on market criteria. The second is to promote greater acquisition of modem and high-tech skills and entrepreneurial acumen amongst the Bumiputra community to allow them to participate in international trade and industry now that global links and strategic alliances are necessary with the intense globalisation process in our midst.

Source: Poverty Alleviation in Pakistan: Present Scenario and Future Strategy, Mohibul Haq Sahibzada. Republished with permission.