KUALA LUMPUR (May 21): The Economic Planning Unit (EPU) of the Prime Minister's Department has set a target for Malaysia to double its gross domestic product to RM2.6 trillion in 2030, from RM1.4 trillion in 2020.

Bernama reported that this will be driven by knowledge-intensive and high-value added activities, generating high income jobs.

"In 2030, more than 40% of total employment will comprise of skilled workers compared with approximately 35% in 2020," said the EPU.

The EPU forecasted GDP per capita to more than double to RM117,260 in 2030, from RM54,890 in 2020, driven by a progressive, inclusive, sustainable and adaptable economy.

The EPU further forecasted a shift in trading activities towards the East in the future, driven by the advancing economies of China and India, which will become major markets for Malaysian goods and services.

The growth in the Asian region will be a driver for global growth, which is forecasted at US$44 trillion over the next 10 years, from US$26 trillion forecasted for 2020.

Meanwhile, the rapid growth in ASEAN will drive demand for power plants, dams, ports, airports and roads, which could present opportunities for Malaysian companies.

The growth in the region will be in line with an estimated global growth to US$44 trillion in the next 10 years, from US$26 trillion forecasted for 2020.

The five-year 11MP was tabled by Prime Minister Datuk Seri Najib Razak today.