ETP Launch Clear-Cut Strategy High Income Economy
KUALA LUMPUR, Oct 31 – Prime Minister Datuk Seri Najib Tun Razak’s move to launch the Economic Transformation Programme (ETP) is a clear-cut strategy and a roadmap towards making Malaysia a high-income economy, say foreign diplomats.
The goal-oriented programme was launched on Oct 25.
Japanese Ambassador to Malaysia, Masahiko Horie, who attended the launch, said he has read the programme and was impressed by its ambition.
“The programme has 131 entry point projects (EPPs), 12 reporting labs and 60 business opportunities, all aimed at creating 3.3 million additional workers.
“By promoting and implementing all these EPPs, I am convinced Malaysia is going to become a high-income country and achieve a gross national income of US$15,000 in 2020,” he told Bernama.
Horie said the ETP was also impressive because of its enormous RM1.4 trillion investment.
“Of the amount, RM1.3 trillion will come from the private sector and eight per cent from public investment.
“Of the private investment, 73 per cent are domestic direct investment and 27 per cent foreign direct investment (FDI). I think the FDI to the Malaysian economy is fundamental and important,” he said.
European Union (EU) Ambassador to Malaysia, Vincent Picket, said the ETP was a bold move by Najib.
“I’m positive about the Malaysian government’s New Economic Model. It is a brave, ambitious and an honest policy statement.
“The government has critically analysed what’s good and what needs to be improved for the Malaysian society and economy.
“That’s not an easy task for any government, Malaysia or EU alike,” he said.
Picket said the ETP was hotly debated in the political and economic arenas. “We are hopeful this reform will succeed. Let’s not forget. Europe also has its cycles of reforms before. “It is a painful process but steps need to be taken for the betterment of the society and the country,” he said.
Belgium Ambassador to Malaysia, Dr Frank van de Craen, said the EU has been following the developments in the country since Najib took over in 2009.
He said becoming a developed nation was still very much a dream of Malaysian politicians, including the opposition. “We hope it can be realised. The EU also try to give advice from time to time,” he said.