CYBERJAYA: The 13th Malaysia Plan (RMK13) under the Madani government is set to be a comprehensive reform catered to the people and will avoid becoming just a “voluminous” document, says Economy Minister Rafizi Ramli.
He said that his ministry will embark on more engagement with the masses to ensure RMK13 will not only address the people’s economic wellbeing but easily understood by the common man.
The main objective is to make Malaysia a “consumption powerhouse” by 2040, as the country is then projected to be at the heart of one of the biggest global consumption markets of Asian countries.
RMK13 is a five-year roadmap for the government to carry out between 2026 and 2030.
The minister pointed out that the Malaysia Plans have become “voluminous” over the past decades that the masses were not only able to relate to the plans but also the plans seem to be buried in the paperwork.
Rafizi also said that the engagement and preparation of the RMK13 would be fast-tracked to a six-month duration compared to the usual one and a half years in the past.
The minister said this in his keynote address to stakeholders at the Kick Off Conference RMK13 held at a hotel here on Thursday (Sept 5) and attended by about 1,000 participants.
“RMK13 will be more similar to RMK1. A strategic document that is equally concise and comprehensive. Each word must be committed towards a specific policy direction.
“Anyone who has written a concise essay, let alone a five-year plan, knows this is no easy task,” said Rafizi.
He stressed that his views should not be misconstrued as not acknowledging the successes of the past Malaysia Plans under previous governments.
Rafizi further said that the bumiputra agenda will still be retained but in a manner where RMK13 would be a balancing act in catering to every Malaysian's needs.
“The other challenge is a commitment to radical reform. The planning phase of RMK13 is akin to a blank canvas. We want to gather creative ideas and inputs from as many people as possible.
“Crucially, it is actually getting the sequencing of policies correct. Instead of a large blueprint, the preference now is to roll out reforms in pocket sizes,” said Rafizi.
He said that with the projected growth of South-East Asia’s compound annual growth rate at 4% until 2040, this region is set to become the fourth largest economy in the world.
“Malaysia must become a consumption powerhouse. An economy that is primarily driven by our people will be the most important determinant of our long-term trajectory and growth rate.
“By boosting domestic demand, we kickstart a virtuous economic cycle. Higher private consumption creates more jobs across all sectors in retail, services, and manufacturing. This translates to lower unemployment and higher disposable income. This increase in savings helps to localise investments into better public infrastructure such as healthcare and education.
“A healthier and better educated people create a more productive society. One that reinvests in lifelong talent development and stems brain drain,” said Rafizi.
He stressed that it is vital to shape an economy that is more resilient to fluctuations in global markets, trade disputes, and geopolitics.
“Marrying a traditionally trading-based economy with greater consumption diversifies our growth and mitigates risks,” said Rafizi.
He called on the participants at the conference, which included economists and civil servants from various departments and agencies, to not “fear imagination” and not to think about money.
“Let those in the pay grade above you who will make the decisions decide. Take into account the diagnosis of the people and push the boundaries,” said Rafizi.
He stated that the RMK13 is expected to be tabled in the middle of next year.
The last Malaysia Plan RMK12, launched on Sept 27 in 2021, ends in 2025.
