Malaysia needs rm600bil investments to achieve high income status and 90% of the investment must be from the private sectors.
The government had launched 131 projects to generate rm1.3 trillion in GNP and 1.3 millions jobs.
That is the message campaigned by Muhyiddin in Brunei. It sound too simplistic and ambitious. It is logical, in economic sense, a developed nations produced certain amount of per capita income.
Looking at the wikipedia chart of per capital, Malaysia is at number 65 with usd7,700 per capita. Other countries in the region are Brunei 28,340 nbr 26, Singapore
I think the per capita is a useful indicator, it should not be the aim of development. The development should focus on the people and not the ranking.
This is where Malaysia had failed, and the leaders had mislead the mass population. The Deputy PM had done this, either intentional or out of ignorance. I think it is intentionally, as it is easier to chase the number than the develop the Malaysian.
Changing Focus
If you were reading the history of early Malaysia, the approach was different. Razak wanted to develop the people, when the people generate the extra income it will be counted as the additional to the per capital.
NEW APPROACH is different, do not be mislead, what Najib wanted (and Mahathir too), we want to be a developed nation, the per capital need to be this level. That will require 600bil investment. The investments will generate the income and part of the GDP and divide that by the population, you get the per capital... What is so difficult about it?.
Issues
1. Malaysia is unique, as the majority population, the Malays are not strong in economy. You bring the idea of targeting per capita, you can have islands of factories and development with a large desserts of poverty. It will unstabilize the nation.
2. Look at Brunei, at number 26 with 28,000 usd per capital, does it make it a developed nation. Hardly so.
3. The issues of corruption is a rampant. The more MACC you have does not seem to reduce, it is ingrained in the very fabric of the certain group of people. It is the easiest mean to get rich in Malaysia.
Conclusion
Targeting to be a high income nation is made in a grave error. We should target development, and income will come a the result of development.