KUALA LUMPUR: A dean has suggested that the natural resources of each state should be harnessed well to attract more investors and industry players.
Citing Sarawak as an example, Universiti Putra Malaysia Faculty of Economics and Management dean Prof Dr Azali Mohamed said the state had successfully developed Bintulu as an oil and gas hub, because it is blessed with the resources.
“Apart from that, Bintulu is also a major producer of pepper. It not only creates job opportunities but serves as an economic catalyst in the region,” he said.
Azali suggested that the government offer more incentives especially to SMEs involved in industries like furniture making, materials supply and also cottage industries, saying this would help raise income levels in the areas concerned.
He said the Thai model is suitable for Malaysia to narrow the economic gap between the states in line with the country’s Shared Prosperity Vision 2030 (SPV 2030).
The SPV 2030 is scheduled to be launched by Prime Minister Tun Dr Mahathir Mohamad this Saturday.
It will be the thrust of the government’s policies and programmes in its bid to make Malaysia a developed, dignified and sovereign nation.
It is also aimed at ensuring every citizen enjoys the economic benefits and prosperity together in a fairer and more equitable manner.
According to Azali, development and empowering industry holistically oriented on the economic strengths of each state will help narrow the economic gap between the states and help realise these goals, particularly via the second strategic thrust of the vision, Inclusive Regional Development.
Under this thrust, the country’s economic development will be extended to several regions towards an inclusive and distributive economic development to bridge the gaps between urban and rural areas, less developed and developed states, and Malaya, Sabah and Sarawak.
Citing the Thai model, Azali said Malaysia could adopt intensive entrepreneurial clusters according to regions practised by Thailand.
In the hilly northern region, the focus is on the agriculture sector and entrepreneurship based on padi, soybean, maize, green peas, cotton and fruits while in the eastern region which is a semi-arid plateau, the concentration is on cultivating tapioca, ground nuts, sesame and livestock farming.
The central region sees produce of greens and breeding of fish in cages while the southern region is noted for rubber, wood industries, fisheries and mixed cropping.
The model has helped alleviate income disparity among Thais.
Azli said with Kedah being the “Rice Bowl of Malaysia”, the focus should be on expanding the padi industry there.
“Among other efforts that can be taken include creating more economic clusters to offer a higher variety of products and services,” he told Bernama.
The SPV 2030 unveiled by Dr Mahathir in May is a roadmap for Malaysia from 2021-2030, It has six other strategic thrusts, which are:
- restructuring and improving the business ecosystem
- generating new growth sectors
- enhancing talent reformation and national resources
- improving labour market and employee income
- strengthen social well-being
- raise social capital of the society.
Besides the seven strategic thrusts, the Prime Minister said the government has also identified other catalysts such as a progressive fiscal policy, a high level of governance and integrity, a desired outcome of education, a higher quality Technical and Vocational Education and Training (TVET), and a competitive financial support capital. – Bernama
