RMKe-11
"Anchoring Growth on People”
Highlights
Rancangan Malaysia Ke- 11 (RMKe-11) tabled by YAB Prime Minister on 21 May 2015 is guided by the Blue Ocean Strategy focusing on rapidly delivering high impact on capital and people economy at low cost to the Government.
GDP growth is expected to average 5 - 6% during the plan period premised on strong domestic demand and expanding external demand. The growth is expected to be driven by significant increase in productivity and less dependency on inputs from capital and labor.
Four strategies to strengthen the economic fundamentals and maintain economic stability are:
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Unlocking the potential of productivity to ensure sustainable and inclusive growth;
-
Promoting investment to spearhead economic growth;
-
Increasing exports to improve trade balance; and
-
Enhancing fiscal flexibility to ensure sustainable fiscal position.
Key Facts & Figures
Real GDP by Kind of Economic Activity 2010 - 2020
Real GDP by Expenditure 2010 - 2020
SIX (6) GAME CHANGERS IN THE RMKe-11 PERIOD
1. Unlocking the potential of productivity
- Approach to productivity will shift from Government-driven to targeted actions across the public sector, industry players and individual enterprises with champions identified as role models.
- Labour productivity to increase from RM77,100 per worker in 2015 to RM92,300 in 2020.
2. Uplifting B40 households towards a middle-class society
- The size and composition of middle-class society will grow to 45% share by 2020 (2015:40%).
- Mean income of the B40 households will double to RM5,270 in 2020 from RM2,537 in 2014.
- B40 family members with tertiary education to increase from 9% in 2014 to 20% in 2020.
- Income share of B40 to national household income to increase from 16.5% in 2014 to 20% in 2020.
3. Enabling industry-led Technical and Vocational Education and Training (TVET)
- Harmonising and streamlining how the system currently operates to reduce fragmentation across the various public and private stakeholders.
- 60% of the 1.5 million jobs created will require TVET-related skills
- Increase annual intake gradually from 164,000 in 2013 to 225,000 in 2020.
4. Embarking on green growth
- A fundamental shift away from “grow first, clean up later” development model towards one that views resilient, low-carbon, resource-efficient and socially inclusive development as an upfront investment
5. Translating innovation to wealth
- Strengthening of relational capital by improving collaboration among stakeholders. Innovation to be targeted at enterprise and societal levels.
6. Investing in competitive cities
- City competitiveness Master Plan will be developed initially for four major cities, based on key principles that increase liveability and stimulate economic growth.
To support the delivery of the 6 strategic thrust and 6 game chargers:
TRANSFORMING PUBLIC SERVICE FOR PRODUCTIVITY
- Enhance service delivery by prioritising citizens
- Rationalising public sector institutions for greater productivity and performance
- Strengthening talent management for future public service
- Enhancing project management for better and faster results
- Capitalising on local government for quality services at the local level
GDP growth is expected to average 5 - 6% during the plan period premised on strong domestic demand and expanding external demand. The growth is expected to be driven by significant increase in productivity and less dependency on inputs from capital and labor.
Four strategies to strengthen the economic fundamentals and maintain economic stability are:
-
Unlocking the potential of productivity to ensure sustainable and inclusive growth;
-
Promoting investment to spearhead economic growth;
-
Increasing exports to improve trade balance; and
-
Enhancing fiscal flexibility to ensure sustainable fiscal position.
MEASURES FOR SMEs IN RMKe-11
Other Measures Related to SMEs
Implication on SMEs
RMKe-11 will focus on developing resilient and sustainable SMEs to achieve inclusive and balanced growth. The contribution of SMEs across all sectors is targeted to increase to 41% of GDP by 2020 with an average annual growth rate of 9.3%. The development of SMEs in the RMKe-11 period will be based on the SME Masterplan (2012-2020) initiatives namely the implementation of the 6 High Impact Programmes and the other supporting initiatives of the Plan.
Economics and Policy Planning Division
SME Corp. Malaysia
21 May 2015
