The Shared Prosperity Vision 2030 (WKB2030) can put Malaysia as a new a Asian Tiger and provide a decent standard of living for all Malaysians by 2030, said Tun Dr Mahathir Mohamad. -- Bernama photo

KUALA LUMPUR: The Shared Prosperity Vision 2030 (WKB2030) can put Malaysia as a new a Asian Tiger and provide a decent standard of living for all Malaysians by 2030, said Tun Dr Mahathir Mohamad.

The Prime Minister said it will give higher value to the country’s economy and make Malaysia a nation that is competitive, of high integrity and dignity.

“This will make Malaysia regain the trust of the market and investors and be able to place Malaysia as a new Asian Tiger,” he said when launching WKB2030 here today.

Dr Mahathir, who described WKB2030 as a vision and a gift for the current generation and generations to come, said it will bring about more equitable growth.

He said the blueprint for the nation's direction from 2021 till 2030 is an effort to make Malaysia a country that continues to grow sustainably with wealth distribution that is fair and inclusive encompassing each income group, across ethnic groups and regions.

It is also includes the supply chain so as to create social harmony and political stability, he said.

The prime minister said the vision's objective to provide a decent standard of living for all Malaysians by 2030 is also in line with the United Nations Agenda 2030 (Sustainable Development Goals).

“It entails an inclusive development approach based on the principle no one should be left behind,” he said.

“There are three objectives we wish to achieve through WKB2030, that is development for all; address wealth and income disparities; and a united, prosperous and dignified nation,”said Dr Mahathir.

He said Malaysia wanted continued prosperity by creating economic growth that was sustainable and competitive and able to absorb any negative changes in terms of supply and demand as well as global economic uncertainty.

Among the main guiding principles were to ensure equitability of outcomes via an economic strategy which assures that an outcome of an initiative can be enjoyed by groups and individuals equitably, he said.

This, he said, took into consideration hurdles faced by the groups and individuals which might be because of differences in economic background and the environment.

“Weaker groups and the less capable will assisted and given certain privileges so that they can compete fairly with those more fortunate for more equitable outcomes,” he said.

Dr Mahathir said the guiding principles of the vision also included the social aspects, economy, integrity and governance to make Malaysia an Asian economic centre.

To make WKB2030 a success, seven strategic thrusts were developed which includes focusing on restructuring the business and industry ecosystem so as to be able to adapt to the future economy and adding value more effectively.

It also targets to make Malaysia not just a consumer nation but noted for inventions, as a producer, supplier and provider of services to the future economy.

The thrust on social capital stresses on the wellbeing of the bottom 40 per cent group (B40), hardcore poor, those economically susceptible, marginalised and isolated groups and those in economic transition.

“Welfare policies should change from the practice of giving out cash to development and training programmes to bring the target groups out of poverty, " he said, adding that WKB2030 is a continuation to the previous vision.

WKB2030 will take off in 2021 with elements included in Budget 2020 that will be tabled next week and fully implemented in the 12th and 13th Malaysia Plans.

Dr Mahathir said social indicators like unity, integrity, religious harmony, environmental quality, awareness on climate change, strengthening the family institution and neighbourliness, prevention of corruption, crimes and drug abuse must see positive outcomes.

On spread of fake news that the Pakatan Harapan government and the WKB2030 sidelines the future of the Bumiputera by levelling the playing field and liberalising all economic sectors, the prime minister said the government understood that the Bumiputera were still lagging behind in many areas.

“Shared prosperity means the Bumiputera are not left behind and must be developed to be more competitive so that they can stand at par with other ethnic groups,” he said.

At the same time, he said, the Bumiputera should not only wait for assistance and government support alone.

“When we understand that we are lagging behind, we should be running faster to catch up with those who are ahead,” he said.

He urged all Malaysians to appreciate the vision and join forces to realise it.

“WKB 2030 should be evaluated based on the outcomes from each minister, ministry, agency, the various government institutions and the private sector,” he added. -- Bernama