Malaysia has achieved significant economic and social progress over the past several decades.
Sustained rapid economic growth has raised Malaysia from a low-income agricultural and commodity-based economy to become a successful middle-income economy.
Our story of moving from low- to middle-income status is one of the world's success stories of the past few decades.
This strong economic performance has helped improve the quality of life for Malaysians and supported widespread advances in education, health, infrastructure, housing and public amenities.
"However, the world is changing and Malaysia needs a fundamentally new economic model in order to become a high-income nation."
Our historical growth engines are slowing down, we face the risk of being stuck in a middle-income trap, our fiscal position is arguable unsustainable and global competition for markets, capital and talent is becoming increasingly intense. In response, the ETP represents a marked change in approach that builds on the Tenth Malaysia Plan and incorporates input from the National Economic Advisory Council.