Starting point to change

The Economic Transformation Programme (ETP) is not intended to be a definitive blueprint of economic activity in Malaysia for the next 10 years, but serves as a starting point.

"A number of projects will evolve. Some will change quite radically, and some will be discontinued," the Performance Management and Delivery Unit (Pemandu) said in its ETP publication.

It said that many new initiatives and activities that have not even been thought of yet will emerge as reforms take hold, new opportunities emerge and markets develop.

"It is important to reiterate that the ETP will evolve," Pemandu said.

It emphasised that the ETP initiatives defined in labs to determine concrete initiatives and projects are termed "entry point project (EPP)."

EPPs are those that should generate big results fast, and are clearly defined initiatives that have potential investors already identified, a well-developed implementation plan and funding requirements that are clearly articulated.

"The EPPs are the initial wave only, and further projects will be identified and pursued over the coming years."

Implementation, however, will be market-led, Pemandu said.

Nevertheless Pemandu will not compromise on the government's goal of achieving high-income nation status by 2020, nor on efforts to ensure the government plays its part in "facilitating and incentivising" private sector-led investment.

The target is to achieve gross national income (GNI) per capita of at least RM48,000 by 2020.

The 12 National Key Economic Areas (NKEAs) selected are targeted to deliver 74 per cent of the required growth through a programme of initiatives and reforms that are market-driven and focused on areas where Malaysia has competitive advantage.

"The government's role is to facilitate this economic growth by delivering reforms, incentivising investment and ensuring public funding is targeted where it will have most impact," Pemandu said.