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Malaysia announces new Economic Transformation Programme initiatives

By Tuesday June 14th, 2011 No Comments

Malaysian Prime Minister Datuk Seri Najib Tun Razak has announced nine new initiatives under the Economic Transformation Programme (ETP). The projects are additions to six projects announced recently which include a refinery and a petrochemical integrated development, and are planned to bring in a total of RM2.27 billion (US$748.5 million) in investment, gross national income (GNI) impact of RM18.67 billion (US$6.15 billion) and create 36,595 jobs by 2010. Combined, the 15 projects within seven National Key Economic Areas (NKEAs) will account for about RM63.38 billion (US$20.9 billion) in investment, RM66.31 billion (US$21.9 billion) in GNI and generate 63,531 new jobs.

According to Bernama, Najib said Monday that so far the ETP has recorded RM170.28 billion (US$56.19 billion) in investment, RM220.15 billion (US$72.63 billion) in GNI and created 362,396 jobs.

The new initiatives include a 64 ha health education centre in Bandar Springhill developed by the UCSI Group, a parent organization of the UCSI University. The project will become the first private teaching hospital in the country and feature Malaysia’s only anti-aging, aesthetics and regenerative medicine facility.

Another initiative will provide national programme standards for early childhood care education (ECCE) training and upgrade the qualifications of the existing workforce to a minimum of diploma level as well as provide multiple and accessible training. The project, under the SEGi University College, will be fully operational in 2015 and the investment is worth RM700 million (US$230 million) and will generate RM900 million (US$297 million) in GNI.

Under the new initiatives, agriculture will play a leading role and will feature two main products: premium shrimps and swiftlet nests. Najib said JEFI Aquatech Resources Sdn Bhd was spearheading an initiative to develop Malaysia as a leading shrimp producer for the global and halal markets by developing agro-entrepreneurs in the country’s rural areas.

The three main components of this project are the establishment of the Jefi Aquatech Centre and Jefi Aquatech Farm, which includes the development of the Agro-Entrepreneur Programme.

Projects related to improved communications infrastructure and green technology are also in the pipeline under the ETP.

Source : Property Report

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