PUTRAJAYA: The federal government has pledged to develop the nation with the people in mind, and to continue with initiatives that will generate shared prosperity for all.
Prime Minister Tun Dr Mahathir Mohamad said this meant that the government would ensure equitable growth for all to create a sense of harmony and stability by year 2030.
He was addressing Pakatan Harapan members and supporters in conjunction with the coalition’s first anniversary since it swept into power with a simple majority in the 14th general elections.
“This wish for shared prosperity is made with the objective to address the income and wealth gap, to ensure the new development model is for all and for Malaysia to be an important economic axis in Asia,“ he said.
But, he said, to achieve the goal of shared prosperity, seven strategic cores must be in place.
These are restructuring and enhancing the national and industrial ecosystem, introducing new growth sectors, reforming talent and national energy resources, improving labour market and employee income, strengthening social prosperity, ensuring inclusive regional development, and improving social capital in society.
“In addition to these seven strategic cores we have also identified other catalysts to ensure that the objectives of these strategic cores can be achieved,“ he added.
Mahathir said that other enablers such as progressive fiscal policies, high levels of governance and integrity, higher education and vocational education and training, competitive financial support capital, effective delivery by government institutions, monetary stability, and knowledge and awareness were essential to supporting the goals.
He added that shared prosperity should not only be measured by GDP as it does not mean much to the ordinary people.
“It should be assessed on what the people possess in terms of salaries and the value of household income, ownership of financial, physical and savings assets, participation in the supply chain, the gap between urban and rural values as well as other ways to measure how prosperity had been shared among all citizens fairly and equally,“ he added.
