Dr Mahathir during the tabling of the 6th Malaysia Plan in 1991, he introduced Vision 2020. The vision calls for the nation to achieve a self-sufficient industrialised nation by the year 2020, encompasses all aspects of life, from economic prosperity, social well-being, educational world class, political stability, as well as psychological balance. To achieve Vision 2020, Mahathir lamented that the nation required an annual growth of 7% (in real terms) over the thirty-year period 1990–2020, so that the economy would be eightfold stronger than its 1990 GDP of RM115 billion. This would translate to a GDP of RM920 billion (in 1990 Ringgit terms) in 2020.
As Dr Mahathir said that we needed to have 7% growth over 30 years. Unfortunately, the average annual GDP in the last 20 years has been about 5% as shown in the following chart.
In 2012, I published my book with the title: Malaysia: Road Map for Achieving Vision 2020.
Forward: By Tengku Razaleigh Hamzah
Chapter 1 Leakages and Corruption
Chapter 2 Human Resource Development
Chapter 3 Governance Issues
Chapter 4 Religious Harmony
Chapter 5 Growing Divisiveness
Chapter 6 Conclusion: Transforming Malaysia into A Modern and Progressive Democracy.
If you Google, you can see that in 1970 when our Government introduced the New Economic Policy (NEP), our GDP per capita was about US$ 1,500 which was about the same as Singapore, Taiwan and South Korea. Currently the GDP per capita of Singapore, Taiwan and South Korea are US$ 65,000, US$ 25,000 and 26,000 respectively. All these 3 countries are classified as Developed Nations despite of the fact that they do not even have timber to build their houses. We were once the biggest producer of tin, rubber and palm oil in the world. Moreover, we have petroleum. Yet we are still not classified as a Developed Nation.
I am 86 years old and I have completely retired from doing business. I am not a politician. I am a patriotic Malaysian Chinese and my object of writing this article is sincere and honourable.
Ever since Merdeka the Malays has been in control of the Government and almost all the Ministers are Malays. Except Public Bank, all the banks are controlled by the Malays. Government must realise that all the rules and regulations made by the Government have not produced the desired result. The Government must change its strategy as soon as possible.
Our Prime Minister Tun Dr Mahathir and all the other Minsters should know what to do if they really want Malaysia to become a Developed Nation.
I humbly suggest they read my book. Malaysia: Road Map to Vision 2020.