Since the morning of independency in 1957, Malaysia merely as any other developing state across the Earth has been hankering for and besides doing assorted attempts to accomplish a true ‘developed state ‘ position. This has been the want of every Malayan citizen and the aspiration of her leaders who had made a batch of attempts and had developed many policies such as the Look-East policy, Leadership by Example, Efficient and Trustworthy Administration and the newest Vision 2020, that are all geared towards accomplishing this end. Among the most celebrated of its leaders on this enterprise is the 4th Malayan Prime Minister, Tun Dr. Mahathir bin Mohamad who initiated most of these transmutation policies and vision.

The Vision 2020 was a 30year program of developing Malaysia into a high income and industrialised state and a portion of the few states of around the Earth with a “ developed state ” position. It was pioneered and introduced by Tun Dr. Mahathir Mohamad and since its startup and acceptance as a National Vision, a series of economic restructuring has led to the preparation of a series of five-year National Development Plans to assist lodge to the set guidelines for get the better ofing the nine challenges to accomplish the ends of the vision.

The aspired development position by the twelvemonth 2020 defined by the ends of the vision, does non merely concentrate on the state ‘s economic facet. It strongly considered the importance of development on all facets such as moral and ethical values, democracy, and social harmoniousness, etc. This was mentioned in the Vision 2020 statement of Tun Dr. Mahathir ( Rahman 1993, p.271 ) :

“ By the twelvemonth 2020, Malaysia is to be a united state, with a confident Malayan society, infused by strong moral and ethical values, populating in a society that is democratic, broad, lovingness, economically merely and just, progressive and comfortable, and in full ownership of an economic system that is competitory, dynamic, robust and resilient. ”[ 1 ]

1.2 Administration of this paper

The range of this paper is to discourse the general construct of Vision 2020, its accomplishments so far, challenges to the executions and its attainability by the twelvemonth 2020. Furthermore, the state ‘s Vision accomplishment position will be compared with that of other developing states that had a similar vision before reasoning the subject.

2.0 CONCEPT OF MALAYSIAN VISION 2020

2.1 Before Introduction of Vision 2020

The enthusiasm for accomplishing a rapid industrialised state had given birth to a batch of policies that contributed a batch to the economic and development place of present twenty-four hours Malaysia. Among these policies formulated earlier before the unveiling of the vision 2020 was the ‘Look East Policy ‘ that was launched by Tun Dr. Mahathir at the beginning of this function as Malayan Prime Minister in late 1981. This policy was introduced at a clip Asiatic states like Japan, South Korea and Taiwan had gained vivacious new economic energies that were virtually detonating, while many European States and the U.S appeared to hold lost their thrust and unable to get the better of their economic stagnancy while been enmeshed in an oil crisis ( Somun and Somun-krupalija 2003 ) . Therefore, Tun Dr. Mahathir in his exact words said:

“ For me, it was a natural decision that if we were to emulate the success of foreign states, the most valuable function theoretical accounts were no longer in Europe or the U.S. , but instead in our ain backyard. We had to look East. ”[ 2 ]( Mohamad 1999, p.84 )

Even though this policy subsequently received some unfavorable judgment ; it brought great benefits in Malaysia ‘s enterprise to achieve the “ developed state ” position, one of which is the formation the first national auto, Proton in 1985 which came through by virtuousness of a joint venture between the Heavy Industries Corporation of Malaysia ( HICOM ) and Japan ‘s Mitsubishi. This brought in great gross as Malaysia held a 70 % portion of the venture while the undertakings support was provided by the Japanese through loans and at the same clip many Malaysians were sent to Japan for intensive preparation plans under this undertaking to subsequently take over.[ 3 ]

2.2 The Malayan Vision 2020

2.2.1 What is Vision and Malaysian Vision 2020?

As the celebrated Nipponese adage goes, Vision without action is a reverie while action with without vision is a incubus. A Vision is fundamentally a long-term mark which supplies an penetration into the manner in which a peculiar organisation wants to travel. A good vision inspires the transmutation of an aim, end or program into action and world.

The Malayan Vision 2020 in a vision of aspiration that was introduced to impel Malaysia to go a to the full developed state within a span of 30 old ages.

2.2.2 Background of Vision 2020

This Vision as defined above was introduced by Tun Dr. Mahathir Mohamad on February 28, 1991 during the meeting of the Malaysian Business Council. The Cabinet ‘s determination to O.K. it was consentient and a national conference for its formalisation as the Malaysian ‘s Nation Vision was instantly ordered to take topographic point in December that twelvemonth.

Ever since the debut of this vision until now ( over 20 old ages ) , a series of economic remodeling that saw the preparation of a series of five-year National Development Plans to assist lodge to the set guidelines and besides the strategic switch of the economic base from that of primary economic system sector laterality ( agribusiness ) to secondary and third sectors laterality ( i.e. industrial and service ) has wholly helped a batch transforming the Malayan economic system from an undeveloped one to a presently a fast growth and sturdy one which is export-minded ( Ho 1996 ) .

2.3 Aims of Vision 2020

As mentioned in the Vision 2020 declaration statement antecedently in subdivision 1.2.2, the focal point of the vision is on all dimensions and non merely the economic system. The specific aims of Vision 2020 are as follows ( Islam 2010, p.200 )[ 4 ]:

To hold sufficient nutrient and shelter with easy entree to wellness and basic necessities

To eliminate poorness

To take the designation of race with major economic maps and to hold a just distribution with respect to the control, direction and ownership of the modern economic system

To keep one-year population growing rate of 2.5 %

To duplicate existent GDP every ten old ages, between 1990 and 2020.

To hold a balanced growing in all sectors viz. : industry, agroforestry, energy, conveyance, touristry and communications, banking, that is technologically adept, to the full able to accommodate, advanced, with a position to ever traveling to higher degrees of engineering

5.1 COMPARISON BETWEEN MALAYSIAN VISION ACHIEVEMENT STATUS AND OTHER COUNTRIES

Among the developing states that had a similar vision and mark as the Malayan Vision 2020 are West African states like Ghana, The Gambia and Nigeria. Even though, the declaration or startup of such a vision in these states is different, and their countries of focal point and besides attacks to carry throughing this dream differ, the mark of accomplishing full development position by the twelvemonth 2020 remains the same. Therefore, since there are no conventionally defined standards for the appellation of “ developed ” and “ developing ” states or countries in the United Nations system[ 5 ]and these appellations are simply based on statistical convenience. Below are tabular arraies of comparing between Malaysia and two of the states of similar vision ( Ghana and Nigeria ) and a developed state ( Spain ) as a benchmark utilizing current available statistic informations on indexs such as Gross Domestic Product ( GDP ) based on Buying Power Parity and Human Development Index ( HDI ) .

5.1.1 Gross Domestic Product ( Buying Power Parity ) per Capita

GDP is defined as:

“ It is the pecuniary value of goods and services produced during a given period, normally one twelvemonth ” ( Brezina 2011, p.10 ) :

GDP is the widest step of a state ‘s end product and the most of import step of the economic system of a state in footings of wellness and advancement compared to other statistical figures. However, utilizing merely nominal GDP figures for comparing economic strength of assorted states could be really erroneous as this type of GDP does non see the differences in cost of life in the assorted states. Nevertheless, utilizing GDP calculated on PPP footing could be moderately more accurate since it accounts for the comparative costs of life and rising prices rates.

5.1.2 Human Development Index

This is another index that is frequently used to compare the degree of development of states. The index compares assorted steps such as the life criterions of a state, its citizen ‘s quality of life and life anticipation, their degree of instruction and literacy. It tells about the step of wellbeing of a state and indicates the consequence of the state ‘s economic policies on the life quality of its citizens.

5.2 Tables for Comparison

5.2.1 GDP Measure

Table 1 below shows the figures on GDP based on Purchase Power Parity ( PPP ) rating of the state ‘s GDP in one million millions of U.S. Dollars. It can be seen clearly that the wellness strength and advancement of the developed state, Spain ( in the Table ) is rather high compared to the remainder. However, the Malayan figure is well higher that of Nigeria and far greater than Ghana ‘s in all the old ages indicated ( i.e. from 2005 to 2011 ) . The per centum alteration tendency of GDP addition annually nevertheless for all the three states with the vision 2020 mark as they work hard to accomplish their ends of development. But for Spain, the GDP per centum alteration decreased well over the old ages due to several grounds.

The other parametric quantities on the tabular array shows that Malaysia is in a better place of accomplishing its ends of Vision 2020 compared to the other states are working hard to increase or at least maintain gross, increase exports, cut down their cyberspace debts and cut down unemployment.

Table 1: Table of Economic Descriptors of Spain, Malaysia, Ghana and Nigeria

Capable Descriptor

Units/ Scale

2005

2008

2011

GHA

National geospatial-intelligence agency

MYS

Clairvoyance

GHA

National geospatial-intelligence agency

MYS

Clairvoyance

GHA

National geospatial-intelligence agency

MYS

Clairvoyance

GDP, changeless monetary values

% alteration

6.02

5.39

4.98

3.59

8.43

5.98

4.83

0.89

14.39

7.36

5.08

0.42

GDP based on purchasing-power-parity ( PPP ) rating

USD/ Billions

42.41

244.64

313.49

1,184.58

56.40

319.87

400.51

1,397.60

75.66

414.03

463.69

1,405.79

Entire investing

% of GDP

23.83

22.21

22.40

29.54

22.96

22.00

21.46

29.11

18.56

22.13

23.59

21.54

Inflation, avg. consumer monetary values

% alteration

15.11

17.86

3.04

3.38

16.52

11.58

5.43

4.13

8.73

10.84

3.17

3.05

Imports volume of goods and services

% alteration

16.96

-1.88

6.03

9.64

26.09

12.45

-3.90

7.96

48.06

5.61

6.07

-0.88

Exports volume of goods and services

% alteration

16.01

-5.44

5.78

4.18

26.96

-4.25

-7.3

6.72

123.77

-8.54

5.64

7.63

Unemployment rate

% of entire labour force

11.90

3.55

9.15

14.90

3.33

11.3

23.9

3.05

21.65

Government gross

% of GDP

16.69

36.30

22.74

39.39

16.04

32.02

24.63

37.15

19.46

29.46

21.88

35.46

Government entire outgo

% of GDP

19.53

23.32

25.61

38.42

24.51

25.71

27.75

41.30

23.61

29.21

28.77

44.39

Government net debt

% of GDP

43.77

19.70

34.85

30.10

1.25

30.80

39.49

10.38

57.49

Government gross debt

% of GDP

48.16

28.61

42.71

43.17

33.59

11.61

41.23

40.17

43.39

17.27

52.87

69.12

Current history balance

$ / Billions

-1.22

9.94

20.69

-83.29

-3.40

29.30

39.44

-154.1

-3.55

8.76

31.74

-52.17

International Monetary Fund, World Economic Outlook Database, October 2012[ 6 ]

5.2.2 HDI Indicator

Table 2: HDI tendencies based on consistent clip series informations, new constituent indexs

Component Indexs

2000

2005

2011

GHA

National geospatial-intelligence agency

MYS

GHA

National geospatial-intelligence agency

MYS

GHA

National geospatial-intelligence agency

MYS

Life Expectancy at Birth

58.4

46.3

72.1

61.0

49.0

72.9

64.2

51.9

74.2

Expected old ages of Schooling

7.8

7.8

11.8

8.6

8.9

12.7

10.5

8.9

12.6

Average old ages of schooling

6.1

8.2

6.5

5.0

8.9

7.1

5.0

9.5

GNI per capita

1,009

1,289

9,461

1,180

1,530

11,220

1,584

2,069

13,685

HDI value

0.451

0.705

0.484

0.429

0.738

0.541

0.459

0.761

National Human Development Reports, UNDP ( 2011 )[ 7 ]

Harmonizing to the Human Development Report of the United Nations Development Program ( UNDP ) , the HDI indexs shown in Table 2 above, between 2000 and 2011, shows comparative figures of Ghana, Nigeria and Malaysia. Malaysia ‘s indexs increased greater than the other two states. Malaya ‘s life anticipation at birth increased by 6.8 old ages while that of Nigerian increased by 6.4years and Ghana 11.1, mean old ages of schooling increased by 5.1 old ages ( 2.2 and 3.6 old ages for Nigeria and Ghana severally ) and expected old ages of schooling increased by 3.5 old ages while that of Ghana rose by 3.1 old ages. Malaysia ‘s GNI per capita increased by approximately 190.0 % between 1980 and 2011 compared to 30 % of Nigeria and 63 % of Ghana.

Finally, GDP as an index of the economic strength and HDI as an index of the degree of human development showed that among the three states with the Vision 2020 end, Malaysia is in a better place of accomplishing this end of achieving “ developed state ” position by twelvemonth 2020.