KUALA LUMPUR: Prime Minister Najib Razak hopes the government’s trust fund Amanah Dana Anak Malaysia 2050, or Adam50, will encourage higher birth rate among Malaysian as the country moves towards reaching its economic maturity.
Najib said a country that is going towards economic maturity would normally see a drop in its birth rate.
Malaysia, he said, was now facing a similar situation.
“So, those of you who are still at child bearing age, continue to give birth, that’s my message, because we need a bigger population,” he said during a programme on Budget 2018 at Universiti Kebangsaan Malaysia Medical Centre (PPUKM) here today.
At the event, Najib also launched Adam50 which was announced last October in Budget 2018. He also visited the maternity ward at PPUKM and handed out hampers to new mothers.
Under Adam50, a baby born on or after Jan 1, 2018 until 2022 will receive RM200 in units of the Amanah Saham Bumiputera or AS1M, as long as the child is registered within a year from the date of birth.
The savings could only be withdrawn after the child reaches 18 years-old.
Najib said Adam50, the first such fund in the country’s history, was also aimed to encourage personal saving for young parents.
“It is because we want to encourage the people to have a mindset to save for the future. Many of our people do not anticipate the need, the children’s need… We can contribute, little by little, and when the time comes for our children to go to university, the money is there,” he said.