Malaysia gross national income (GNI) per capita could rise to US$15,000 as early as 2018, said Second Finance Minister Ahmad Husni Hanadzlah.

"We are progressing well in our Economic Transformation Programme and based on latest estimates, the GNI per capita target of US$15,000 or RM48,000, can be achieved earlier than our target of 2020," Ahmad Husni said, before the launch of Bursa Malaysia's new community portal in Kuala Lumpur yesterday.

However, he added, the key benchmark of Malaysia's success is inclusiveness, not only in terms of benefits, but participation as well.

The government wants all, from corporations down to the people, to be able to participate in achieving the goal together.

With the rise in income levels, there will be a need for the people, especially the young workforce, to actively manage and grow their wealth.

Local capital markets will be strengthened

"The development of an investing culture will have a secondary effect, while strengthening the resilience of the local capital markets," Ahmad Husni added.

Meanwhile, Bursa Marketplace, which was launched yesterday, is an online portal at www.bursamarketplace.com, to further grow retail participation in the local bourse, especially among the younger generation.

"Investing in the equity markets requires certain skills and knowledge, and therefore, we need to raise the financial literacy of Malaysians.

"Bursa Marketplace uses tools familiar with the younger generation and will prove a leap forward towards creating an investment and trading culture in Malaysia," Ahmad Husni said.

- Bernama