26/05/2011 (Bernama) - The Vision 2020 deadline is just nine years away, so Malaysia has to fast track many of its development programmes to reach the country's true economic potential.

The country also needs to think of ways to achieve a more balanced development that takes into account equitable distribution of wealth and makes a transition to a green economy.

In charting the country's future, the government engaged the best talents across the world through the Global Science and Innovation Advisory Council (GSIAC).

Chaired by Prime Minister Datuk Seri Najib Tun Razak, himself, GSIAC brought together the best practitioners from diverse fields such as government, industry, academia and the public, both local and international.

Partnering with the New York Academy of Sciences, the GSIAC is represented by 35 members from the academy with Malaysia's ministers, academicians and leaders of government-linked companies (GLCs).

"The 'rakyat' are the main benefactors of the GSIAC effort," said Professor Emeritus Datuk Dr Zakri Abdul Hamid, the Science Adviser to the Prime Minister.

HIGH INCOME NATION IN THE MAKING

The World Bank reported Malaysia's Gross National Income (GNI) per capita at USD7350 (about RM22,300) in 2009, which was a 64.5 percent increase compared to USD4740 (about RM14,390) in 2004.

The GNI is a recognized indicator as to whether or not the country possesses sufficient resources to achieve the target of USD15,000 GNI per capita by 2020.

Should Malaysia succeed in doing so, the country would join the developed nations of the world.

A high-income country, as defined by the World Bank, is one that has GNI per capita of USD12,196 (about RM36,980) annually.

GSIAC'S ROLE IN ACHIEVING HIGH INCOME

The GSIAC council is expected to review and advise on possible measures to be taken in order to achieve a high income status and create opportunities for high value jobs.

Also, the council plays a role in attracting capital investment and public-private partnerships, and incorporates elements of science and technology to create innovation-led new economic initiatives.

"We are already taking steps towards achieving this goal through the introduction of the New Economic Model (NEM) and Economic Transformation Plan (ETP)."

"Thus, the GSIAC will complement efforts already taken by the government to ensure its success in line with their aspiration", said Dr Zakri.

In spite of all efforts to create wealth and meet this goal, the council will also take into consideration efforts to promote social stability and better quality of life for all Malaysians.

This is where economic growth has to be aligned with sustainable development, ensuring that the country's interest is protected in the long run.

DEVELOPMENT FOR THE FUTURE

Implementation of the latest technology and extensive use of the ICT will be among the thrusts for developing the country within the GSIAC scope.

This development includes initiatives to improve facilities related to ICT in rural areas in order to achieve 100 percent broadband penetration nationwide by 2020.

Meanwhile, to provide a boost to the palm oil industry, the council will seek methods to diversify the industry's potential by carrying out biomass projects using waste from the palm oil industry to generate energy.

"With this, businesses that cultivate palm oil will have diverse sources of income, instead of just selling the fruit branch. This in turn will help lift their standard of living," said Dr Zakri.

Aside from this, there will also be studies to assist the palm oil industry in curbing pollution. The outcome of this study will be shared with the rest of the world.

"Among the steps that will be taken are studies to optimize the use of palm oil waste and development of smart cities and smart villages."

"Automatically, this can become a form of education to the world, increasing the profile of Malaysia and silencing critics of the industry," he said.

Council members of the GSIAC are expected to further drive the Green Technology Policy initiative adopted by Malaysia in 2009.

GREEN TECHNOLOGY MADE PRACTICAL

Within the scope of implementation, the GSIAC is a perfect agency for proposing and discussing the feasibility of any undertaking.

Through GSIAC, conflicts in policy, regulation and red tape can be avoided.

'The well being of the 'rakyat' is our utmost priority. We really hope that GSIAC will be proven as an effective transformation agent and will do good to the country in the short and the long run", said Dr Zakri.