Vision 2020 - SS3 Economics Lesson Note

Vision 2020 is a strategic plan created by the government of Malaysia in 1991 with the goal of transforming the country into a fully developed nation by the year 2020. The plan aimed to achieve this by focusing on three main areas: economic growth, social well-being, and environmental sustainability.

The economic growth component of Vision 2020 focused on developing Malaysia's economy through the promotion of technology, innovation, and entrepreneurship. The plan called for the country to achieve a gross national income (GNI) per capita of $15,000 by 2020, which would make it a high-income nation.

The social well-being component of Vision 2020 aimed to create a more equitable society by addressing issues such as poverty, health, education, and social welfare. The plan aimed to reduce poverty levels to 5% or less and to improve access to healthcare, education, and social services.

The environmental sustainability component of Vision 2020 aimed to ensure that Malaysia's economic growth was sustainable by protecting the country's natural resources and promoting environmentally friendly practices. The plan called for the development of a more sustainable energy sector and the preservation of Malaysia's biodiversity.

While the Vision 2020 plan was not fully achieved by the year 2020, Malaysia did make significant progress towards its goals. The country's GNI per capita increased from $1,240 in 1991 to $11,630 in 2019, and poverty levels were reduced from 8.1% in 1990 to 0.4% in 2016. The plan also helped to promote greater awareness of the importance of sustainability and social equity in Malaysia's development.