The Vision of a Country with High Income and Greater Public Well-being
Malaysia is successfully moving towards achieving its goal of becoming an advanced nation by 2020, however, the nation’s aspirations go beyond just achieving high-income status. Malaysia wants to be a truly advanced country where people enjoy high income along with a greater level of public well-being. To achieve this, the Malaysian Government is applying the Blue Ocean Strategy principles of high impact, low cost and rapid execution to national development through National Blue Ocean Strategy (NBOS).The Malaysian National Development Strategy (MyNDS).
The Malaysian National Development Strategy (MyNDS)
NBOS serves as the basis for the Malaysian National Development Strategy (MyNDS) which will guide the 11th Malaysia Plan from 2016 until 2020. MyNDS focuses on rapidly delivering high impact on both the capital and people economies at low cost to the government. The capital economy is about GDP growth, big businesses, large investment projects and financial markets, while the people economy is concerned with what matters most to the people, including jobs, small businesses, the cost of living, family well-being and social inclusion.
Under MyNDS, strategy formulation is being driven by creativity and innovation, and strategy execution follows the principles of fair process. By reconstructing the conventional boundaries that exist across public and private organisations, the government is creatively unlocking and multiplying national resources. Costs are lowered by breaking down silos across ministries and agencies to unlock underutilised resources, while higher value is delivered to people by creatively deploying those resources to hot spots. This enables the simultaneous pursuit of high income and greater public well-being while keeping taxes low.
National Blue Ocean Strategy: Simultaneously Pursuing High Income and Greater Public Well-being
NBOS is formulated and executed through the NBOS Summit, a unique and dynamic national strategy platform which brings together ministries, agencies, all levels of government and the private sector on a voluntary basis to develop initiatives that are high impact, low cost and rapidly executed. The Summit, which was launched in 2009, breaks down bureaucratic silos through fair process and is driven by the creativity of ideas, while participants receive full credit and recognition. To date, more than 90 NBOS initiatives have been successfully implemented to address a wide range of economic and social issues. Through the series of NBOS initiatives implemented since 2009, the government is fulfilling the aspirations of all Malaysians and making progress towards realising the vision of Malaysia as a country with high income and greater public well-being a reality.