Report: PM’s 12MP speech highlights

PRIME Minister Datuk Seri Anwar Ibrahim has tabled the motion on the 12^th Malaysia Plan 2021-2025 Mid-Term Review in the Dewan Rakyat this morning (Sept 11).

Here are among the highlights of his speech:

12MP MTR is themed “Malaysia Madani: Sustainable, Prosperous and High-Income”.
12MP MTR supports government efforts to plan and implement a sustainable national development agenda in line with the aspirations of “Malaysia Madani, Ekonomi Madani: Memperkasa Rakyat framework and Sustainable Development Agenda 2030”.
12MP will be realigned with the Ekonomi Madani vision, which aims to empower and rejuvenate the national economy over a 10-year period.
The government is committed to spending at least RM90 bil a year from 2023 until 2025 under 12MP.
The government will fully spend the RM400 bil allocation under 12MP and increase the ceiling by RM15 bil, bringing the total sum to RM415 bil.
The increase is aimed at meeting the need to finance priority fields of the rakyat, enhancing the standard of management and retargeting subsidies to meet the people’s basic needs.
Social Innovation Policy to be launched this November to promote innovation at the grassroots level.
The government will develop an export ban policy on rare earth raw materials to prevent exploitation and loss of resources, thus ensuring maximum returns for the country.
The government is targeting Malaysia to become the driver in the international halal market with a halal export value of RM63.1 bil in 2025.
Malaysia will organise the 15th International Conference on Islamic Economy and Finance (ICIEF2023) in Kuala Lumpur in December to deliberate on problems over Malaysia’s bid to pioneer the enhancement of comprehensive Islamic financial system practices.
The government is providing RM346 mil in funds for the duration of the 12MP period to attract the participation of youths in creative activities that offer high incomes.
The government will provide RM60 mil in second chance financing funds to small and medium enterprises (SMEs) and innovative entrepreneurs in the manufacturing and services sectors.
Smart industries based on geography will be given emphasis, including the Air Manis Plantation project in Kulai, Johor and Biopolymer Park project in Kerteh, Terengganu.
The government has approved an allocation of RM1.1 bil for the 2023 to 2025 period in efforts to strengthen security and reap the benefits of cross-border economic development.
The government is determined to narrow the income gap ratio between rural and urban areas, from 0.57 in 2022 to 0.67 in 2025.
Development of Sabah and Sarawak regions will continue to be given focus.
Projects on Renewable Energy (RE) development and upgrading of the electricity supply system at Gugusan Felda Sahabat Sabah costing RM195 mil will be implemented.
More projects on the reconstruction of dilapidated school buildings will be implemented in Sabah and Sarawak. So far, 64 projects are being implemented in Sarawak and 43 projects in Sabah.
A regional blood centre will be built in Sabah, while a Public Health Laboratory and a Food Security and Quality Laboratory will be built in Kuching, Sarawak.
A sum of RM1.5 bil has been approved for activating programmes and projects which can generate income for target groups to eradicate hardcore poverty this year.
The government will strengthen the provision of social protection to the people through the Social Protection Reform which is being studied.
Cash aid and the Rahmah programme will be continued and improved to ensure the continued upgrading of the social security network.
A Bumiputera economic congress will be held in January 2024 to set the direction and new approaches for a Bumiputera agenda that is fairer, more equitable and inclusive.
The Companies Act 2016 and Limited Liability Partnerships Act 2012 related to the declaration of beneficial owners are being reviewed with the aim of strengthening transparency on share ownership.
Wakaf funds will be established through cooperation with agencies related to Yayasan Wakaf Madani as a new approach to developing the Islamic economy.
The National Youth Economic Empowerment Plan will be launched, with a focus on increasing the marketability of unemployed youths and those involved in the informal work sector.
1,200 dilapidated clinics throughout the country will be upgraded in the 2023 to 2025 period.
The government has agreed to establish the Mental Health Institute to tackle the issue of mental health which has become more worrisome. – Sept 11, 2023