Tuesday, September 27

PM: ETP different from previous devt plans


KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak yesterday stressed that the Economic Transformation Programme (ETP)is different from development plans previously implemented.

ETP ROADMAP: Najib (right) shows a copy of the Economic Transformation Plan (ETP) after launching it at the Putra World Trade Centre yesterday. With him are (from left) Health Minister Datuk Seri Liow Tiong Lai; Domestic Trade, Cooperatives and Consumerism Minister Datuk Ismail Sabri Yaacob and Minister in the Prime Minister’s Department Datuk Seri Idris Jala. Led by the private sector, the ETP will transform the Malaysian economy to become a high-income country with a Gross National Income per capita of at least RM48,000 by 2020, with 74 per cent of this growth delivered by the National Key Economic Areas (NKEAs). — Bernama photo

“What we are doing now has previously not been attempted. There are six distinguishing factors between the ETP and whatever previous plans,” he said at the launch of the ETP Roadmap here yesterday. The first factor, he said, is that the ETP is a programme and not a plan.

Najib said the signifcant difference in the ETP is that it is a programme containing specific projects and specific action with a timeline, project owner and a measure of performance.

The programme has 131 Entry Point Projects (EPP), 12 reporting labs and 60 business opportunities, all aimed at creating 3.3 million additional workers.

Secondly, the ETP he added, is based on Gross National Income (GNI) and provides a clear direction.

He also explained that the aim of the government is to achieve a GNI per capita of US$15,000 in 2020. In the 10 years to come, 131 EPPs and 60 business opportunities will respectively spur the additional GNI of US$138 bilion and US$112 billion.

When combined with the organic growth from the National Key Economic Areas (NKEAs)and non-NKEA, the total GNI in 2020 is estimated to reach US$523 billion.

Thirdly, Najib said, the ETP is jointly formed with the private sector with an open and transparent approach, where it is also market friendly based on merit and needs.

He said to strengthen transparency and take into account the views of the people, the ETP Programme had been exhibited and discussed together with 13,000 people through Open Days, including publishing where government contracts have been given on the government website.

Fourthly, the ETP will change the role of the government, from being the financier to facilitator, to reduce the public sector spending, where 92 per cent of investments for the ETP is from the private sector and 72 per cent will be contributed by domestic direct investment.

Fifthly, the ETP has the quality of being inclusive where all Malaysians will get to feel, no matter how small, the positive impact from the implementation of projects under it.

“Finally, as a whole, all 133 entry point projects will cover the entire country.

A total of 68 entry point projects will benefit Sarawak and 71 for Sabah, as well as 106 for those in the rural areas.

“Generally, this is in line with the ratio of the urban and rural population in the country,” Najib explained.

He also said that specifically, for those in the rural areas, the EPP is expected to create 323,596 new jobs in 2020 and this will benefit owners of Native Customary Rights (NCR) land, especialy in Sabah and Sarawak.

The Prime Minister hoped the ETP will bring benefits to the women’s work force.

At present, only 3.95 million women aged between 15 to 64 are working.

“It is clear that the ETP will embrace all layers of the community. The impact of eventual development will be experienced by all Malaysians, with no one being let out of the mainstream of economic sucsess,” he said. — Bernama