KUALA LUMPUR, Oct 7 (Bernama) — The government will focus on seven core areas next year in the bid to achieve a high-income status for the country with the well-being of the people and tackling the effects of weak external sector on the economy given utmost priority, according to the 2011/2012 Economic Report.
The report, released by Finance Ministry, says the seven areas are reducing the impact of inflation, enhancing the well-being of the people, accelerating rural transformation, reinvigorating investment activities, innovating Malaysia, developing human capital and improving public service delivery.
To reduce the impact of inflation, the government will maintain the subsidy programme, albeit in a more targeted manner besides introducing several measures, including expanding the Kedai Rakyat 1Malaysia and the Menu Rakyat 1Malaysia programmes to provide affordable goods and food away from home to all Malaysians.
In enhancing the well-being of the people, affordable and quality homes will be made available to the low and middle-income groups while land public transport system will be further improved,it says.
According to the report, the government will also strive to reduce youth migration to urban areas and increase the added value of national economic activity through multiplier effects.
To reinvigorate investment activities, effort will be taken to promote and market the country as an ideal location for investments besides encouraging greater collaboration between government-linked companies and the private sector through the public-private initiatives.
To encourage innovation and creativity, funding to research, development and commercialisation programmes will be enhanced besides placing greater emphasis on internalising the culture of total innovation.
The report says to further strenghten the public delivery system, the government will introduce electronic-based initiatives to facilitate citizens’ interaction with the government and participation in policy making.
Source : Bernama