He said the blueprint was not just aimed at resuscitating the economy and generating wealth, but also sharing the wealth equitably.
Mahathir said while detractors felt the initiative did not indicate a clear direction, the government felt otherwise.
The accusation that the Pakatan Harapan government is directionless was made by those who refused to acknowledge reality, Mahathir added.
“Are we really the same as the Malaysia under the previous government? Or are they saying they prefer the kleptocratic government better?” he said in a blog post today.
Mahathir then pleaded for a little bit of time and urged people to take part in the Shared Prosperity Vision’s policies.
“And in two years, you will realise that the direction of the government is right.”
Launched in October, the SPV 2030 is aimed at achieving fairer economic growth and adding value to the economy, making Malaysia attractive once more to foreign investors.
The objectives of the 10-year roadmap, from 2021 to 2030, are to ensure development for all, address wealth and income disparities, and build a united, prosperous and dignified nation.
Among its key targets is for Malaysia to attain a RM3.4 trillion gross domestic product (GDP), employee wages to be at 48% of GDP, an equal salary median among the races and a Gini Coefficient of 0.34, down from 0.39 in 2016.
Mahathir went on to say that the economy is still growing at a good rate for a country at this stage of development, despite an outflow of funds and the depreciation of the ringgit.
Malaysia, he said, still has high savings, noting that Bank Negara’s reserves are “very high” at more than RM400 billion while other funds, such as Permodalan Nasional Bhd (PNB), Employees Provident Fund (EPF) and some smaller funds add up to over RM1.5 trillion.
Foreign assets, Mahathir added, were big and national oil company Petronas is doing well with more than RM100 billion in income.
In many other countries, reserves of this size would guarantee the strength of the national currency, he said.
“The fact is that the Malaysian economy and its currency are strong.
“The market and detractors may not think so. But the government has faith in its financial and economic policies. And so do foreign and local investors.”