Govt may tweak eco­nomic de­vel­op­ment poli­cies

New Straits Times - - BUSINESS - Na­bil Basaruddin

KUALA LUMPUR: The govern­ment is ex­pected to de­velop strate­gies and ini­tia­tives for eco­nomic de­vel­op­ment via ad­just­ments to ex­ist­ing poli­cies and pro­grammes, such as the Eco­nomic Trans­for­ma­tion Pro­gramme (ETP) and the Eleventh Malaysia Plan (11MP).

Pu­tra Busi­ness School se­nior lec­turer and busi­ness de­vel­op­ment man­ager, Dr Ahmed Raz­man Ab­dul Lat­iff, said the govern­ment was likely to in­tro­duce a new na­tional eco­nomic pol­icy since the Na­tional De­vel­op­ment Pol­icy (NDP) had ended.

He said it was also pos­si­ble for the govern­ment to make a com­pre­hen­sive trans­for­ma­tion on some ex­ist­ing eco­nomic poli­cies ac­cord­ing to cur­rent needs.

“Some re­forms on ex­ist­ing poli­cies or new pol­icy in­tro­duc­tions can be made by the govern­ment as a con­tin­u­a­tion of the poli­cies in­tro­duced ear­lier.

“For ex­am­ple, im­prove­ments can be made to the 11MP which had pre­vi­ously fo­cused on as­pi­ra­tion of achiev­ing a de­vel­oped coun­try sta­tus, which is dif­fi­cult to ob­tain in the near fu­ture.

“The govern­ment needs to be ef­fi­cient in chang­ing di­rec­tion by fo­cus­ing on poli­cies in bal­anc­ing in­come and wealth of ev­ery in­di­vid­ual.

“This is be­cause Vi­sion 2020 is near­ing its end and ac­cord­ingly it should con­tinue with a new vi­sion as an ef­fort to sym­bol­ise Malaysia in the next era,” he said re­cently.

Eco­nomic Af­fairs Min­is­ter Datuk Seri Mo­hamed Azmin Ali had said that the coun­try’s poli­cies would be re­viewed to en­sure sus­tain­able eco­nomic de­vel­op­ment and eq­ui­table dis­tri­bu­tion.

Mean­while, Ahmed Raz­man said if the govern­ment took steps to in­tro­duce a new eco­nomic pol­icy, it should take into ac­count all as­pects of the chal­leng­ing and un­cer­tain global eco­nomic en­vi­ron­ment.

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