Economic news - Tenth Malaysia Plan (2011-15): Towards a high-income economy.
The Economic Planning Unit (EPU) yesterday conducted a briefing on the Tenth Malaysia Plan (10MP) to captains of industries. The 10MP essentially sets a platform for Malaysia to achieve developed nation status by 2020. The plan will engage more effective as well as sustainable public-private sector partnerships to drive the economic development plans. The government will provide RM15bn under the private finance initiative (PFI) facilitation fund, to generate more private investment projects. The 10MP plans a real GDP growth target of 5.5% p.a. for 2011-2015. Reflecting the gradual downsizing of the public sector, private investment growth will increase by 10.5% p.a., outpacing that of public investment (0.7% p.a.) in 10MP. The policymakers are fully aware of the constraints and promised in the 2010 Budget to dismantle any barriers to re-energising private investment including policies, rules, regulations and procedures.
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