有关0PP3的大纲(英文)
信息来自: · 作者: · 日期:13-02-2016

The Third Outline Perspective Plan 2001-2010

 

The OPP3 has been formulated based on a policy that will be called the National Vision Policy (NVP), with national unity as its overriding objective, is aimed at establishing a progressive and prosperous Bangsa Malaysia which lives in harmony and engages in full and fair partnership. Economic growth will be promoted alongside efforts aimed at poverty eradication and restructuring of society, social, economic, and regional imbalance will be narrowed. The development policies to improve material welfare and raise the level of prosperity will be accompanied by efforts to instill positive social and spiritual values as well as concern for the environment to maintain the long-term sustainability of the country’s development.

Chapter 1: Sustainable Growth With Resilience

Chapter 2: Review of the Second Outline Perspective Plan, 1991-2000

Chapter 3: Macroeconomic Perspective

Chapter 4: Building a United and Equitable Society.

Chapter 5: Developing Malaysia into a Knowledge-based Economy.

Chapter 6: Investing in People.

Chapter 7: Sectoral Strategies Priorities.

Chapter 1: Sustainable Growth with Resilience.

Development Thrusts of The National Vision Policy

Building a Resilient Nation (Political Objective)

Fostering Unity and Spirit of Patriotism

Nurturing Political Maturity

Cultivating a Tolerant and More Caring Society

Raising Quality of Life

Building Economy Resilience

Promoting an Equitable Society (Political Objective)

Restructuring of Society

Poverty Eradication and Income Distribution

Regional Development

Sustaining Economy Growth

Strengthening Sectoral Dynamism

Promoting Domestic Private Investment

Encouraging Foreign Direct Investment

Pursuing Prudent Fiscal and Monetary Policies

Strengthening the Banking Sector

Broadening and Deepening the Capital Markets

Strengthening Corporate Governance

Meeting Global Competition

Increasing Productivity

Strengthening S & T and R & D

Developing Entrepreneurial and Technopreneurial Capacity

Developing World-Class Companies

Developing Local SMEs

Establishing a World-Class Public Sector

Developing a Knowledge-based Economy

Strengthening Human Resource Development

Developing a Generation of Resilient Youths

Enhancing the Role of Women in Development

Pursuing Evironmentally Sustainable Development

Integrated Approach and Strategies

Reducing Pollution Intensity

Increased Use of Economic Instruments

Environmental Performance Standard

Chapter 2: Review of the Second Perspective Plan, 1991-2000

Overall, the economy grew at an average rate of 7.0% per cent per annum and achieved the target for theOPP2 period, despite the economy experiencing the financial crises in 1997-1998. The high growth rate was attained in an environment of low inflation and unemployment. The per capita income increased at an average of 7.8 per cent per annum. The purchasing power parity (PPP) per capita grew by 5.3 per cent per annum to reach US$8852 or 2.5 times higher than the per capita income of US$3516.

During the OPP2 period, Total Factor Productivity (TFP) contributed 25.5 per cent to total growth, while the major sources of growth were labour and capital.(Table 2.1)

The incremental capital output ratio (ICOR) rose from an average of 3.3 in 1990 to 3.5 in 2000 and averaged 6.1 for the whole OPP2 period. The high ICOR indicated a sharp decline in capital efficiency due to low capacity utilization during the economic downturn. Large investments in infrastructure projects and heavy industries with long gestation periods also contributed to high ICOR.

On the demand side , the major contributors to economic growth were private expenditure and exports of goods and non—factor services, as shown in Table 2-3. Private investment grew at an average rate of 2.9 per cent per annum, well below the target of 8.0 per cent per annum, on account of the severe economic contraction in 1998, as shown in Chart 2-1.

Private consumption grew at annual rate of 5.5 per cent, lower than the target of 7.2 per cent per annum, mainly due to prudent consumer spending. Efforts by the Government to encourage domestic savings as well as to control inflation also contributed to lower spending. In addition, the negative wealth effect of the financial crises affected consumer sentiments, which resulted in the contraction of spending in 1998.

Public investment expanded by 10.5 per cent per annum in contrast with the targeted reduction of 0.4 per cent per annum under the OPP2. The bulk of public investment was by Non-Financial Public Enterprises (NFPEs), particularly Petroliam Nasional Berhad (Pertronas), Tenaga Nasional Berhad (TNB) and Telekom Malaysia Berhad, to finance their expansion and modernization programmes, especially during the first seven years of the OPP2. The increase was also due to the fiscal stimulus package launched by the government beginning 1998 to initiate economic recovery.

Public consumption, which accounted for 20.5 per cent of total consumption spending, grew at a relatively moderate of 5.5 per cent per annum, in line with the Government’s policy to fiscal prudence.

Exports assumed an increasingly important role in propelling economic growth during the OPP2 period, particularly in leading the economic recovery from the financial crises. The sector grew at an average rate of 16.7 per cent during the OPP2 period. Electronics and electrical machinery appliance and parts contributed an increasing proportion of exports, accounting for more than 61.6 per cent of total exports in 2000 compared with 33.3 per cent in 1990, as shown in Chart 2-2. Imports grew at an average rate of 14.7 per cent per annum during the OPP2 period. As a result of the high import content in the production structure, the boom in the manufacturing sector generated higher imports of capital and intermediate goods, which grew by 12.1 per cent and 16.2 per cent, respectively, as shown in Chart 2-3.

The balance of payment position strengthened towards the latter part of the OPP2 period following significant growth in merchandise exports, as shown in Table 2-4. The merchandise account was in surplus throughout the whole OPP2 period, with the largest surplus of RM86.5 billion recorded in 1999. The services account was, however, in deficit due mainly to the net outflows of investment income arising largely from the repatriation of profits and dividends by foreign investors. In addition, the high payments for fright and insurance, contract and professional charges as well as repatriation of income by foreign workers also contributed to the deficit. However, policy measures taken to strengthen the services account led to some favourable structural changes particularly in the travel and education and other transportation subsectors. The other transport subsector turned around since 1994 to generate surplus while the net inflow of travel improved significantly. The Merchandise surplus, however was able to offset the services deficit, thereby resulting in a notable improvement in the current account with the shift to a surplus position beginning 1998, as shown in Chart 2-4.

The long term capital account of the balance of payments registered a net inflow of RM 100.1 billion during OPP2 period. This was attributed to the net inflow of long-term direct investment. In addition, the official long-term capita amounted to RM22.6 billion, reflecting mainly the large external borrowings by the NFPEs to finance their expansion and modernization programmes. In constrast, the Federal Government recorded net repayment during the OPP2 period. The Government had selectively repaid its more expensive external loans during the first half of the OPP2 period, reflecting the strong financial position of the Government as well as its commitment to contain the external debt at a manageable level. Accordingly, the external debt of the Federal Government declined from RM24.7 billion at the end of 1990 to Rm13 billion at the end of 1997. However, as result of the financial crisis, the Government raised some external loans amounting to RM3.9 billion during 1999-2000 to finance its fiscal stimulus package. Consequently, the overall balance of the balance of payment, which takes into account the current account as well as short- and long-term capital flows, recorded a surplus of RM86.5 billion. The Central Bank reserves increased to RM113.5 billion or 4.5 months of retained imports at the end of the Plan period.

 

 

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