According to RHB Investment Bank Bhd (RHB IB), the 12MP and NIMP 2030 are positive signposts in the right direction to move Malaysia up the value chain to be a high-income nation.

It said the 12MP which places significant emphasis on governance, sustainability, fiscal and social responsibilities, and productivity gains through digitalisation and automation, dovetails closely with the longer-term NIMP that will run through 2030.

“The 12MP mid-term review has long-term positive implications for the evolution of Malaysia’s economy, although much will depend on execution. We expect more colour on the short-term initiatives in Budget 2024 on Oct 13, 2023,” it said in a note today.

Meanwhile, Public Investment Bank Bhd (PublicInvest) said the strategic framework of the 12 MP places a paramount emphasis on enhancing the efficiency of public service delivery and serves as the lynchpin for broader economic progress.

It said the overarching ambition is to elevate the nation’s gross national income (GNI) per capita to a projected US$14,250 (RM66,643) by 2025 from 2020’s US$10,191 (RM47,666) level.

“Encouragingly, during the evaluative phase spanning 2021 to 2022, the GNI per capita, in current price terms, ascended to US$12,035 (RM56,294) in 2022, which is an encouraging growth trajectory from the 2020 baseline,” PublicInvest said.

The 12MP was tabled in the Parliament by Prime Minister and finance minister Anwar Ibrahim yesterday.

It introduced 17 “”big bold measures” covering 71 main strategies and initiatives that will serve as the main catalyst to reform the nation’s socioeconomic development.