I was one amongst the captive audience at the recent event at Putrajaya where our beloved Prime Minister gave an update of the nation’s progress and developments under the Economic Transformation Plan.
As a local business consultant to foreign clients seeking investment opportunities in Malaysia, I take special pains to remember the facts spouted by credible government representatives.
The following are some facts that I managed to jot down (whilst in the lull state of stasis thinking about what Kate Middleton would be wearing during her visit to Kuala Lumpur the very same day itself):-
Okay, in short, the subset of the National Transformation Policy (NTP) is the Government Transformation Programme (GTP), under which is the Economic Transformation Programme (ETP).
The goal of the ETP is to get Malaysia out of the middle income trap to be a high-income developed country by Year 2020.
In addition to the ETP is also the National Economic Model (NEM), under which there are twelve (12) National Key Economic Areas (NKEA), 131 Economic Entry Point Projects, six (6) Strategy Reform Initiatives, and seven (7) National Key Results Area (NKRA).
By then, I think the PM kinda read my (and I am sure many others too!) confused minds and kindly illustrated that in the nation building journey towards a high-income developed country, the ETP is the vehicle, the 7x NEM and 6x SRIs is the expressway, the 12x NKEA is the engine and EPP is the fuel.
I think that’s when we all got a slightly clearer picture, albeit still being confused with the many acronyms.
Moving on.
Malaysia is the 21st most competitive country in the world, according to the World Economic Forum 2012.
Meanwhile according to the World Bank’s ‘Doing Business 2012’ report, Malaysia ranks the 18th easiest country to start or run a business in, overtaking much more developed countries like Germany, Japan, Taiwan and France.
Oh, A.T Kearney recognises Malaysia as one of the Top 10 countries in the Foreign Direct Investment Confidence Index. Also, by the way, did you know that today, Malaysia’s per capita income is USD9,700 as compared to USD6,700 just two years ago? Thus we are apparently on track to achieve the USDS15,000 mark by 2020.
And talking GDP (gross domestic product), Malaysia achieved the highest GDP at over RM852 billion, and GNI (gross national income) at over RM830 billion since its Independence in 1957!
So many were the achievements and accolades of the ETP that I shall not even venture into the drastic improvements in the country’s Crime Index, the billions of Ringgit handouts in short term programs to eradicate poverty and 7-13 % salary hike for over 4 million civil workers.
But while one may say ‘Hey, that’s great news everywhere!’, then why didn’t I feel the love when I walked out of the event?
IT BYTES BACK! says: Those facing the daily grind can probably tell reality from illusions.
