Key Points Of 10th Malaysian Plan (2011-2015)

Thursday, 17 June 2010

KUALA LUMPUR, June 10 (Bernama) — Following are the key points of the 10th Malaysian Plan (2011-2015) released Thursday:

 THRUST

  • Charting development for a high income nation
  • 6 pct growth target
  • Per capita income to increase to RM38,845 (US$12,139) by 2015
  • Creating private sector-led economy
  • Supporting innovation-led growth
  • Full employment
  • Restructuring of subsidies

ALLOCATION

  • RM230 billion: 60 pct physical development; 40 pct non-physical development
  • Sector allocation: economic 55 pct, social 30 pct, security 10 pct, general administration 5 pct

CHARTING DEVELOPMENT FOR A HIGH INCOME NATION 

10 big ideas

  • Internally driven, externally aware
  • Leveraging on diversity internationally
  • Transforming to high-income through specialisation
  • Unleashing productivity-led growth and innovation
  • Nurturing, attracting and retaining top talent
  • Ensuring quality of opportunities and safeguarding the vulnerable
  • Concentrated growth, inclusive development
  • Supporting effective and smart partnerships
  • Valuing environment endowments
  • Government as a competitive corporation

* 12 National Key Economic Areas

  • Palm oil and related-products
  • Financial services
  • Wholesale and retail
  • Tourism
  • Information and communications technology
  • Education
  • Electrical and electronic
  • Business services
  • Private healthcare
  • Agriculture
  • Greater Kuala Lumpur

ATTRACTING TALENT

  • Talent Corporation to be set under PM’s Department in 2011 to source global top talent including among Malaysian diaspora
  • Simplify hiring of foreign talent
  • Flexibility for foreign talent to change jobs
  • Spouses of foreign talent to take up employment
  • Exemption for foreign talent to bring in foreign domestic help
  • No time limit on employment visa of skilled foreign talent earning more than RM8,000 per month
  • Open visas to be issued to high skilled foreign professionals
  • Highly skilled foreign professionals allowd to purchase houses costing RM250,000 and above
  • National Talent Blueprint by 2011 to identify talent needs of priority economic sectors

ENHANCING BUMIPUTERA ECONOMIC PARTICIPATION

  • 30 pct target Bumiputera corporate equity remains
  • Develop a Bumiputera commercial and industrial community
  • Create stronger and more competitive industry champions
  • Broadening wealth ownership to ensure sustainability
  • Promoting Bumiputera representation in high-paying jobs through enhanced capability building and demand-side incentives

EMPLOYMENT

  • To grow at 2.4 pct yearly to create 1.4 million jobs mostly in services sector
  • Employment to reach 13.2 million jobs in 2015
  • Full employment status with unemployment rate of 3.1 pct in 2015

RAISING EMPLOYABILITY

  • Standardised and recognition of Technical Education and Vocational Training (TEVT) by Malaysian Skills Certificate
  • RM150 million to train 20,000 school dropouts
  • RM7.5 million to train coaches, instructors and facilitators
  • Strengthening performance culture in universities

REFORMING LABOUR MARKET

  • More flexible labour market
  • Upgrade skills of existing workforce
  • Enhance Malaysia’s ability to attract and retain top talent
  • RM80 million for Relief Fund for Loss of Employment from 2010 to 2012 to provide assistance to workers  retrenched without compensation
  • Part-Time Work Regulations under Employment Act 1955 to be introduced to tap workforce from amongst housewives, retirees and disabled persons
  • Increase female labour force from 46 pct in 2010 to 55 pct in 2015
  • RM500 million each to provide loans to workers and school leavers for training and skills upgrading
  • RM50 million to continue the matching grants for training and skills upgrading of small and medium enterprise employees
  • RM50 million to fund apprenticeships involving more than 8,000 students
  • RM50 million to co-sponsor employees to obtain industrial PhDs
  • RM350 million allocated to continue programme of partial financial assistance for PhDs in local universities started in 2009

INFRASTRUCTURE TO SUPPORT GROWTH/PRODUCTIVITY

  • Broadband penetration of 75 pct by 2015
  • RM2.7 billion to build roads and rails leading to key ports and airports to improve trade efficiency and logistics systems logistics systems
  • Energy security through development of alternative sources i.e. hydro, coal and liquified natural gas by 2015

INCLUSIVE SOCIO-ECONOMIC DEVELOPMENT

  • Elevate livelihoods of 40 pct of households
  • Ensure Bumiputera economic participation
  • Reduce poverty from 3.8 pct in 2009 to 2 pct in 2015
  • Raise average monthly income of bottom 40 pct of households from RM1,440 in 2009 to RM2,300 in 2015
  • Increase percentage of SPM qualification and above in bottom 40 pct of households from 30 pct in 2009 to 45 pct in 2015
  • Education assistance for children from bottom 40 pct of households

SOCIAL SAFETY NET

  • Housing assistance for rural poor
  • Affordable housing and low-cost housing expanded for urban/semi-urban poor
  • Income support for eligible groups within 40 pct of households when subsidies are restructured
  • Income support for disabled old and single mothers
  • Encourage GLCs to tailor CSR programmes to target the needy
  • 1Malaysia clinics expanded to urban poor and other underserved areas

SPECIAL TARGET GROUPS

  • Halve poverty among Orang Asli communities in Peninsular Malaysia to 25 pct in 2015
  • Reduce poverty among Sabah ethnic minorities from 22.8 pct to 12 pct and Sarawak ethnic minorities from 6.4 pct to 3 pct
  • Financial assistance to Chinese new villages to renew land lease, upgrade homes and fund business
  • Improve access to basic amenities in estates and re-skilling programmes for displayed estate workers
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