13 September, 2012

Media Statement at the Progress Update of the Economic Transformation Programme (ETP)


1. Saya amat berbesar hati untuk mengumumkan projek-projek baru dan pencapaian Program Transformasi Ekonomi Negara hari ini.

2. Sejak pelancarannya hampir dua tahun yang lalu, projek-projek di bawah ETP berjalan lancar dengan kebanyakan projek permulaan (EPP) yang diumumkan dalam masa ini, kini telah pun berlangsung.

3. Pada suku kedua tahun ini, negara kita telah mencatatkan Keluaran Dalam Negara Kasar (KDNK) sebanyak 5.4 peratus berbanding 4.3 peratus yang dicatatkan dalam tempoh sama tahun lalu. Ini adalah pencapaian yang amat membanggakan ketika dunia sedang bergelut dengan masalah ekonomi. Kita hendaklah mengekalkan momentum ini bagi merealisasikan impian untuk menjadikan Malaysia sebagai sebuah negara yang berpendapatan tinggi.

4. Namun, dalam dunia global yang semakin sengit saingannya, adalah penting bagi kita untuk meningkatkan usaha dan mempertingkatkan daya saing negara kita.

5. Menurut Global Competitiveness Report 2012-2013 terbitan World Economic Forum (WEF) baru-baru ini, Malaysia berada di kedudukan ke-25 dalam kalangan 144 negara yang terbabit dalam kajian WEF, berbanding kedudukan ke-21 tahun lepas. Ini menunjukkan bahawa kita mesti membendung sikap berpuas hati ataupun complacency kerana negara lain sedang giat meningkatkan daya saing mereka.

6. Pada masa yang sama, Malaysia telah dikategorikan sebagai negara yang berada dalam tahap peralihan ke arah pembangunan didorong inovasi. Ini amat menggalakkan dan menampakkan kesan yang positif bagi polisi ekonomi negara.

7. Saya sarankan kita mengambil laporan WEF ini untuk meningkatkan usaha dan iltizam agar mencapai matlamat untuk menjadikan Malaysia antara negara yang paling berdaya saing.

8. Saya pasti sekiranya kita semua – pihak Kerajaan and swasta – menggembleng tenaga dan usaha bersama-sama, kita akan dapat menjayakan aspirasi negara yang akan membawa manfaat kepada diri sendiri, keluarga yang tersayang dan komuniti kita.

Ladies and Gentlemen,

9. In our search for investment, both local and foreign, we have placed great emphasis on Gross National Income positive investments that will facilitate our transition into a high-income economy.

10. These investments include high-technology, green and alternative energy technologies, and knowledge intensive industries.

11. To attract these investments, I wish to reiterate that the Malaysian government remains focused on creating conditions that are investor-friendly to enable businesses to thrive. Ensuring ease of doing business in Malaysia is a key priority for us.

Ladies and Gentlemen,

12. I am pleased to take this opportunity to highlight the progress made in two Strategic Reform Initiatives; under the Human Capital Development (HCD) and Government’s Role in Business.

13. With regards to Human Capital Development, we are focused on improving the quality of technical and vocational education (TEVT). A rating system assessing quality of TEVT in private skills training institutes has been in place since 2011. Some RM200 million of revolving funds have been allocated annually as loans to students undertaking TEVT programmes in private skills training centers and institutes. To date, over 800 accredited training centres have been rated. This will improve the quality of delivery of technical education and vocational training (TEVT) in private skills training institutes as well as accelerate the adoption of TEVT as a viable learning pathway and attractive alternative to academic education.

14. Several initiatives are also in place to help SMEs to better manage their workforce. These include a one-stop web portal, human resources capability building programmes and business owners’ peer-sharing sessions. This allows SMEs access to process flows as well as step-by-step guides to best practices. The HR portal has registered over 2,500 users to date and almost 6,000 have attended the HR Capability Building Programmes.

15. Through the Government’s Role in Business SRI, we have made our role in business very clear. We remain committed to ensuring that our role outside these four areas is limited to that of a facilitator in order to avoid crowding out the private sector.

16. In 2011, a total of 11 companies owned by government linked investment companies (GLICs) were divested, listed or sold outright. This includes the listing of Malaysia Sugar Manufacturing (MSM) and the sale of Khazanah’s stake in Pos Malaysia.

17. In June this year, Felda Global Ventures Holding (FGVH) raised 3.1 billion dollars from its IPO, the second biggest IPO in the world and the biggest IPO in Asia this year to date.

18. The following month in July, Asia’s largest hospital operator, IHH Healthcare Bhd was dual-listed on the Malaysian and Singaporean stock exchanges, raising USD 2.1 billion.

19. These listings and their subsequent performance on the stock market have not only shown the strength of our capital markets but put us on the radar of international investors. With many more listings in the pipeline I am confident of not only making our economy a regional powerhouse for IPOs but also one that is led by the private sector.

Ladies and Gentlemen,

20. I am delighted to announce 7 projects today with a total investment value of RM5.607 billion, a projected GNI of RM2.361 billion, and creating 18,522 new jobs.

21. In the Healthcare NKEA, Ranbaxy Laboratories Limited, India’s largest pharmaceutical company in a joint venture with local partners, are investing RM125 million to set up a second manufacturing plant in Malaysia which will become one of Ranbaxy’s eight global manufacturing hubs for the export of generic drugs.

22. The project, managed by Ranbaxy Malaysia Sdn Bhd, is expected to commence by the end of September this year. When completed, the total output of generic drugs in Malaysia is expected to increase three-fold to 3 billion units from 1 billion currently.

23. I would like to announce another project under the Healthcare NKEA. Medical Devices Corporation Sdn Bhd will be investing RM88.55 million to set up a contract manufacturing hub for various medical devices and products.

24. This project will incorporate technology transfer from its international partners, upskilling local workers and reducing our reliance on imports for medical devices.

25. In the Oil, Gas and Energy NKEA, a consortium comprising Dialog Group, the State Government of Johor and Royal Vopak will invest RM4.08 billion to develop the Pengerang LNG Terminal Project – an LNG storage, loading and regasification terminal to import LNG for trading purposes and for domestic use.

26. The terminal will be the first Independent LNG Trading Terminal in Asia, allowing multiple LNG users to store and trade the product. This will spur the growth of the industry, and help establish Malaysia as Asia’s LNG trading hub.

27. In the Business Services NKEA, 1Progres consortium plans to invest some RM947.13 million in a waste recovery alternative solution. Known also as WARAS, this waste collection, purchase, recycling and reuse system focuses on community engagement and education. WARAS is based on the internationally-accredited Wongpanit system from Thailand.

Ladies and Gentlemen,

28. In the Palm Oil and Rubber NKEA, United Plantations Berhad and Oleon Sdn Bhd will invest RM96.33 million to build a 25,000 million tonne per year oleo-derivatives production facility in Selangor Halal Hub. Using the latest technologies and processes, the UniOleon plant will be able to produce high-value derivatives used in food applications, a sector with strong growth.

29. Malaysia is investing some RM4.7 million in three clinical trials seeking medical breakthroughs by using tocotrienols in palm oil. These trials, conducted by medical experts globally are designed to test the application of tocotrienols in a variety of medical conditions such as stroke and cancer prevention.

30. In a boost to innovation under the Electrical and Electronics NKEA, National Instruments will be investing RM270 million to establish two National Instruments Academy and Innovation Nucleus.

31. The proposed Academy and Innovation Nucleus is a shared laboratories infrastructure, comprising a number of foundation labs for training and vertical application labs for creating innovations for different industry applications such as control & instrumentations, green technology, transportation, oil & gas and agro-science.

Ladies and Gentlemen,

32. These projects are but a snapshot of the real change and the progress in the economy. The economy’s growth in the first half of the year was extremely heartening, especially in the face of global headwinds. More encouraging is the growth in private investment, a show of confidence in the work we are doing to make doing business in Malaysia easier and to create more and more opportunity.

33. With that, I would like to thank all project owners for your confidence in Malaysia, and wish you all the best with your projects.To all present, have a pleasant evening ahead.

Thank you.

Wabillahitaufiq Walhidayah Wassalamualaikum Warahmatullahi Wabarakatuh.

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