Productivity Performance - MPC

MESSAGE FROM THE MINISTER OF INTERNATIONAL
TRADE AND INDUSTRY
MALAYSIA
In its quest towards expediting the journey towards achieving high income
economy status, the Government launched the New Economic Model (NEM)
which is supported by four major pillars namely, 1Malaysia: People First,
Performance Now concept, Government Transformation Programme (GTP),
Economic Transformation Programme and Tenth Malaysia Plan (10MP) in
2010.
The ultimate objective of these programmes is to improve per capita
income to at least USD15,000 by 2020. This can be achieved by sustaining
an average 4.6% productivity growth per annum to ensure that we are on
the right track to attain developed country status.
In 2010, Malaysia’s productivity performance grew by 5.8% to RM51,591. The
significant jump in overall productivity growth was expected considering
the remarkable recovery of the economy from the previous year’s decline
of 1.9%. Malaysia registered the highest productivity growth as compared
to selected OECD countries such as Sweden (4.4%), Germany (3.5%), USA
(2.7%) and Finland (2.7%). However, some Asian countries recorded higher
productivity growth namely, Singapore (11.8%), China (10.0%) and Taiwan
(8.2%).