Malaysia will revitalize the agricultural sector to turn it into the third engine of growth during the next five-year national plan, according to the Ninth Malaysia Plan (2006-2010) tabled Friday.
The government will place emphasis on the New Agriculture, which entails further expanding of large-scale commercial farming and venturing into high quality and value added activities, said the report which was presented by Prime Minister Abdullah Ahmad Badawi at the parliament here.
To realize the goal, the government will take measures to widen the application of modern technology, strengthen research and development in the agricultural sector, improve marketing capability and promote more participation of the private sector.
During the 2006-2010 period, the agriculture sector is expected to grow at a higher average annual rate of 5 percent and, with the inclusion of the agro-based industry, the growth rate is expected to reach 5.2 percent, said the report.
In line with the new emphasis on agriculture, a total of 11.4 billion ringgit (3.08 billion U.S. dollars) will be provided to carry out various agricultural programs and projects in this country, an increase of 7 percent compared with the eighth plan.
Themed "Together Towards Glory, Excellence and Distinction," the ninth national plan is the first five-year development blueprinted by Badawi, who took over as Prime Minister in 2003.
Source: Xinhua