Malaysia has an income and wealth gap, and the country's economy will be restructured to be more progressive, vibrant, and sustainable through the Shared Prosperity Vision 2030 (SPV2030) that will be implemented. The current quandary concerns income imbalances, ethnic disparities, urban, rural, and regional differences, as well as supply chain inequalities. What are the main goals of SPV2030, which will be implemented over a 10-year period beginning in 2021? Certainly improving the standard of living for all Malaysians. The use of talent and energy resources has yet to fully impact the country's economic model, resulting in low added value and limited diversity. As a result, there is a need to transition from a labor-based and low-skilled economy to a knowledge-based and future-based economy. The initiative is no longer a development that is only measured in terms of numbers; rather, development and wealth should be distributed more fairly so that everyone can benefit. Let us work together to ensure that the WKB 2030 goals are met for people in all parts of the country.   Question  1)What measures can be proposed to support the government's efforts to ensure that Malaysians can achieve the goals of the Shared Prosperity Vision 2030?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Malaysia has an income and wealth gap, and the country's economy will be restructured to be more progressive, vibrant, and sustainable through the Shared Prosperity Vision 2030 (SPV2030) that will be implemented. The current quandary concerns income imbalances, ethnic disparities, urban, rural, and regional differences, as well as supply chain inequalities. What are the main goals of SPV2030, which will be implemented over a 10-year period beginning in 2021? Certainly improving the standard of living for all Malaysians. The use of talent and energy resources has yet to fully impact the country's economic model, resulting in low added value and limited diversity. As a result, there is a need to transition from a labor-based and low-skilled economy to a knowledge-based and future-based economy. The initiative is no longer a development that is only measured in terms of numbers; rather, development and wealth should be distributed more fairly so that everyone can benefit. Let us work together to ensure that the WKB 2030 goals are met for people in all parts of the country.

 

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1)What measures can be proposed to support the government's efforts to ensure that Malaysians can achieve the goals of the Shared Prosperity Vision 2030?

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