Monday, June 13, 2011

Najib announces nine new ETP initiatives

Najib greets one of the guests at the Sixth ETP Progress Update.

Prime Minister Datuk Seri Najib Abdul Razak has announced nine new initiatives in the Economic Transformation Programme (ETP), which include Malaysia's first private teaching hospital and the establishment of two new specialists hospitals.

Prime Minister Datuk Seri Najib Abdul Razak has announced nine new initiatives in the Economic Transformation Programme (ETP), which include Malaysia's first private teaching hospital and the establishment of two new specialists hospitals.

He said the new initiatives are expected to bring in RM2.77 billion in investment and create 36,595 jobs by 2020.

Speaking at the 6th ETP Progress Update here, Najib said the nine new initiatives (see below for list), along with the six previously announced ones, are expected to generate RM63.88 billion in investments, contribute RM66.13 billion in Gross National Income (GNI) and 63,531 new jobs.

"Under the Education National Key Economic Area (NKEA), the UCSI Group is developing a 160-acre integrated health education cluster in Port Dickson.

"The development will comprise of the 1,000-bed UCSI University Hospital, which will also be Malaysia's first private teaching hospital," said Najib.

This development will see an investment of RM850 million by 2012, which will in turn generate RM1.3 billion in GNI and 2,000 jobs by 2020.

"In the Healthcare NKEA, two specialists hospitals will be established.

"The first will be a 220-bed hospital dedicated to heart, brain, spine and joint diseases while the second is a 300-bed hospital to provide comprehensive children and women's healthcare," said Najib, who is also the Finance Minister.

These two hospitals, undertaken by Sime Darby Healthcare group, will cost RM240 million and RM40 million respectively and will create 1,539 new jobs by 2020.

Another initiative involves the Education NKEA.

A consortium comrpising SEGi Education Group and eight early childhood care education (ECCE) providers will upgrade qualifications of existing workforce to a minimum of diploma level and provide multiple and accessible training as well as develop national programme standards for ECCE training.

The ECCE will be fully operational by 2015, and the investment is worth RM700 million, said Najib.

Other new initiatives also include the 1Malaysia Unified Sale, which will combine (but will not replace) the three mega sales currently organised by the Tourism Ministry, and a RM11.3 private sector investment into TelePresence, the next generation in video conferencing technology using life-size, high-definition video and spatial discrete audio.

"Today we have reached a new milestone. With these 15 initiatives, we have seen 50%, or 65 of 131 Entry Point Projects (EPPs), take off," said Najib.

Najib also explained that since the ETP’s launch in October last year, there have been transformations to the nation’s economy in a relatively short period.

"Even though our Gross Domestic Product is average at 4.6%, investment and spending have both increased by 6.5% and 6.6% respectively, which reflects the increasing confidence of both the consumer and the investor," said the prime minister.

In today’s update, Najib also announced that 51 policy reforms suggested by the National Economic Advisory Council for the New Economic Model, will be executed by the Government Transformation Projects' Performance Management and Delivery Unit (Pemandu) in stages.

"The government recognises that for Malaysia to sustain its competitiveness, policy reforms must be initiated.

"Fourteen policy measures have been placed under existing NKEAs and National Key Result Areas. The remaining 37 policy measures are grouped under six Strategic Reform Initiative (SRIs) clusters," he said.

The SRIs are: public service delivery; public finance; human capital development; international standards and liberalisation; government’s role in business; and narrowing disparities.

He said with these SRIs, the framework of Malaysia's economic transformation agenda is now in place.

"I believe that the combination of focus and competitiveness through the NKEAs and SRIs respectively will enable us to achieve our high-income nation target by 2020," said Najib.

ETP's new initiatives

>> Malaysia's first private teaching hospital; a 160-acre integrated health education cluster in Port Dickson including a 1,000-bed university hospital

>> Two specialists hospitals to be established: one dedicated to heart, brain, spine and joint diseases, and the second to provide comprehensive children's and women's healthcare

>> An early childhood care education hub in Kuala Lumpur, and upgrading of teachers and educators to a minimum of diploma level

>> 1Malaysia Unified Sale to encourage consumer spending and integrate current annual mega sales into one centralised sale

>> RM5 million boost for the production of edible birds nest

>> RM375 million investment in developing agro-entrepreneurs in rural areas and boosting shrimp production for global and halal market

>> Investment in cutting-edge video conferencing technology

>> Sustainability Achieved via Energy Efficiency (SAVE) – a RM50.2 million programme by the Energy, Green Technology and Water Ministry to improve energy efficiency through several initiatives, including encouraging the purchase of energy-saving electricals through rebates

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