KUALA LUMPUR: The government will introduce more incentives in the 13th Malaysia Plan (13MP) to stimulate the economy that goes beyond the distribution of funds and projects, said Economy Minister Datuk Seri Rafizi Ramli.
These incentives will be based on policies to drive changes in societal and behavioural economics to support national transformation.
“These incentives will be built around the policies we need to facilitate this transition, to ease the behavioural changes we need in the economy and society,” he told reporters at an engagement session with industry representatives for the 13MP here today.
According to Rafizi, this new approach will ensure that incentives are focused not only on the direct distribution of resources but also on creating an ecosystem that supports a more sustainable and competitive economic transition.
He also emphasised that the 13MP will no longer be a document that only lists government projects, as was previously.
“The main focus of the 13MP will be on policies and programmes to influence the sort of behaviours that are needed to support the transformation of the country’s economic structure.
“This new approach will reduce public investment dependency while providing space for the private sector to play a central role in driving economic growth,” he added.
Elaborating further, he said the government will remain committed to aligning policies across various ministries to ensure that issues such as regulations that burden the private sector are resolved.
“Platforms such as engagement sessions provide an avenue for the government and private sector to bridge these gaps and enable better understanding and cooperation.
“We want the private sector to be the main economic driver while the government plays the facilitator via policies and programmes,” he said.
