The new government will also adopt changes in policies, strategies and the way they are implemented to fulfil the people’s expectations and to rebuild and restore the nation’s glory, said Prime Minister Dr Mahathir Mohamad in the “Economic Outlook 2019” report, the first presented under the PH government.
The 142-page report was released by the finance ministry (MoF) in Parliament today.
Mahathir also said that in attaining a developed and inclusive nation status, the government had implemented various reforms to enhance economic growth and the wellbeing of the people.
In this regard, the government, through the MoF is promoting efforts to create an entrepreneurial state and promote cooperation among the 4Ps, namely, people, professionals, private and public to spearhead various national development initiatives.
He said to enhance prudent fiscal management, the MoF would accelerate a zero-based budgeting system, rationalise assistance programmes, improve procurement processes and broaden the revenue base.
Touching on Malaysia’s aspiration to re-position its status internationally through active participation in the global community, Mahathir said the country would continue to strengthen trade ties with major and potential trading partners through a conducive and business-friendly environment in line with the principles of Zone of Peace, Freedom and Neutrality.
“By upholding the principle of prosper-thy-neighbour, we will continue to emphasise on strengthening cooperation with Asean members as well as other regional trade blocs.
“In addition, greater focus will be given to strengthening bilateral ties with China and Japan in line with the Look East Policy,” said Mahathir.
Meanwhile, in achieving the objectives outlined in Vision 2020, the prime minister said the government would ensure the Malaysian economy continues to be on a sustainable growth trajectory by providing a conducive and favourable environment to attract investors and businesses.
“Hence, the industries should leverage these opportunities by embracing advanced technology to enhance productivity and competitiveness,” he added.
The government also recognises the importance of the role of the young generation in driving future growth and as such, efforts will be undertaken to prepare them to become a highly- and digitally-skilled workforce in tandem with the Industrial Revolution 4.0.
“We believe this is the responsibility entrusted upon us. The government is confident that with the cooperation and support of the people, this responsibility will be carried out successfully to attain hopes of building a New Malaysia with dignity and integrity,” said Mahathir.
He reiterated that the support of the majority of Malaysians which ensured PH’s success in the 14th general election was a remarkable achievement that would be part of the nation’s history.