KUALA LUMPUR, June 13 — The Economic Transformation Programme (ETP) has recorded announcements of RM170.3 billion in investments, with a projection of RM220.2 billion in gross national income (GNI) that is expected to create 362,396 new jobs, the prime minister said in his latest ETP update today.
This includes nine new national key economic area (NKEA) initiatives and six initiatives that have already been unveiled independently by project owners since the last ETP update in April.
These 15 initiatives in seven NKEAs, which brings the number of realised entry point projects (EPPs) to 65 out of 131, are expected to generate RM63.4 billion in investments, RM66.3 billion in GNI and 63,531 new jobs.
They include a RM850 million integrated health education cluster in Port Dickson by UCSI Group that will include the first private teaching hospital in Malaysia; a RM11.3 million telepresence centre by VADS Bhd and Cisco; and a Unified Malaysia Sale, which will unite three existing annual sales events into one co-ordinated event.
Previously announced initiatives include Petronas’s RM60 billion refinery and petrochemical integrated development (Rapid), the 24-member telecommunications consortium Konsortium Rangkaian Serantau and AMD’s new global services centre in Cyberjaya.
The Najib administration will also begin implementing the 51 policy reforms recommended by the National Economic Advisory Council (NEAC) in its New Economic Model (NEM) report last year to ensure the country’s continued competitiveness.
The reforms will be executed in stages by the Performance Management and Delivery Unit (Pemandu).
Fourteen policy measures have been placed under existing NKEAs and national key result areas (NKRA) while the remaining 37 have been grouped in six strategic reform initiative (SRI) clusters.
The clusters comprise public service delivery, public finance, human capital development, international standards and liberalisation, the government’s role in business, and narrowing disparities.
“We recognised that project-driven initiatives and investments cannot operate effectively without the necessary cross-cutting fundamental reforms,” Prime Minister Datuk Seri Najib Razak said today.
“The execution of the SRIs will not only signal our resolve to truly reform economic policies but also bring about real changes that matter to businesses and ultimately, the people, in the spirit of 1 Malaysia, People First, Performance Now.”
Source : The Malaysian Insider