Economic Transformation Programme Open Day Key Note Address. YB Senator Dato Sri Idris Jala CEO of PEMANDU Minister in Prime Minister s Department
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1 Economic Transformation Programme Open Day Key Note Address YB Senator Dato Sri Idris Jala CEO of PEMANDU Minister in Prime Minister s Department
2 PM introduced 4 strategic thrusts to transform us towards Vision 2020
3 People First Performance Now was a first step to unite our people
4 We established the GTP based on what the rakyat wants Merdeka Centre Polls Public Perception Survey Cabinet Polls Media Analysis
5 The GTP is already delivering results in 8 months...
6 15% drop in overall Index Crime
7 39% drop in street crime
8 2.4 million increase in LRT ridership
9 54,569 children are benefiting from 1,358 pre school classes and 9,816 schools have been ranked
10 Out of 44,643 households, 46% reduction (23,679) of hardcore poor
11 3712 government contracts have been published on line myprocurement.treasury.gov.my
12 520 arrests & 192 people convicted of corruption have been published in MACC website
13 Now lets look at our economy..
14 Malaysia is one of only 13 countries in the world to have sustained growth of over 7% for 25 years or more since 1945
15 GDP Growth, (%) 15 Recent global events had brought us down % 5 4-5% Asian Financial Crisis Dot-Com Bust, 9/ Global Financial Crisis -10 Source: Department of Statistics Malaysia, Ministry of Finance
16 We need to do both.. increase revenue reduce costs
17 We are showing strong signs of recovery and growth.. 17
18 Despite a slight drop in the WEF ranking, 10th IMD Competitive Index ranking has improved significantly.. Source : IMD 18 th
19 Our GDP growth for first half 2010 was.. 9.5%
20 We also reduced our Budget 2010 by.. RM 25billion
21 We started to rationalize our subsidy whilst protecting the poor RM 760million savings
22 Our ringgit is strongest in the last 13 years 22
23 More investors are investing in our country...
24 In order to achieve a high income nation, our GDP must grow at least.. 6% per annum
25 We have launched the New Economic Model as a framework to begin our journey
26 NEM - Making us a rich country, for everyone & for a long time High Income Target USD 15,000 GNI per capita by 2020 Enables all community benefits from the wealth of the country Inclusiveness Quality of Life Sustainability Meets present needs without compromising future generations
27 The question is.. How do we get there?
28 We need both NKEAs (drivers) + SRIs (enablers) GNI per capita (USD) Current 6,700 Target 15, NKEA 1 NKEA 2 NKEA 3 NKEA 4 NKEA 5 Others 2020 Re-energising private sector Developing quality workforce Competitive domestic economy Strengthening public sector Transparent & Market Friendly Affirmative Building knowledge Action base infrastructure Enhancing sources of growth Ensuring sustainability of growth
29 ETP is not a Plan Strategic intent Strategic plan Blueprint Strategy document Projects Action items Timeline Project owner Targets It is a Programme
30 30,000 feet 3 feet
31 What is a NKEA? A National Key Economic Activities (NKEA) is a driver of economic activity that has the potential to directly and materially contribute a quantifiable amount of economic growth to the Malaysian economy
32 What does NKEA do?
33 USD 15,000 NKEA will boost our RM 48,000 Per capita Gross National Income (GNI) USD 6,700 RM 23,770 Per capita
34 We conducted workshop of a thousand to achieve consensus on the industry focus for the country..
35 1000+ people 194 MNCs, GLCs, SMEs, Ministries & Gov agencies
36 Financial Services Wholesale & Retail Tourism Greater KL...and Oil, Gas & Energy Business Services Agri culture finalised 12 NKEAs Education Electrical & Electronics Comms Content Infrastructure Palm Oil Healthcare
37 objectives After finalizing the 12 NKEAS, we ran the NKEA Labs Increase GNI per capita from USD7,000 to USD15,000 by 2020 (as per NEM & 10MP) Identify projects to achieve the above target Ensure the projects are mainly privately funded Ensure more job creation and shift towards higher income bracket
38 More than 500 lab members across 210 companies, 13 NGOs & 32 Government agencies participated full time for 8 weeks
39 Retail Education Petroleum and gas Healthcare Tourism Palm oil Banking and financial services Islamic financial services
40 To find ways to increase our country s income in the next 10 years
41 Result of the 12 labs (8 week work) is phenomenal...
42 12 Lab Reports 131 Entry Point Projects 60 Business opportunities 3.3 million jobs opportunities
43 Remember.. ETP is not a Plan It is a Programme
44 USD (billion) The ETP Roadmap to achieve a high income 523 nation (RM 275 b) 188 (RM 661 b) 138 (RM 442 b) (RM 359 b) (RM 1.7 t) 2009 GNI 1 2 Entry Point Projects (EPPs) Business Opportunities (Biz Opps) 3 Growth in other Sectors 2020 GNI Target 11 Sector NKEAs Note : Nominal GNI (USD billions). Assuming population by year 2020 is 31.6 million
45 USD (billion) Note : Nominal GNI (USD billions). Assuming population by year 2020 is 31.6 million 131 Entry Point Projects (EPPs) worth USD 138 billion (RM 275 b) 188 (RM 661 b) 138 (RM 442 b) (RM 359 b) (RM 1.7 t) 2009 GNI 1 2 Entry Point Projects (EPPs) Business Opportunities (Biz Opps) 3 Growth in other Sectors 2020 GNI Target
46 Greater KL MRT 9 EPPs and 3 BOs Incremental GNI of RM 392 billion 66% Private Investment 552,000 new jobs Largest infrastructure project in Malaysia 141 km of three new corridors Integrated with existing rail systems KTM Komuter, Monorail and LRT Generate an estimated cumulative employment of 130,000 workers of various disciplines
47 9 EPPs and 3 BOs Incremental GNI of RM 392 billion 66% Private Investment 552,000 new jobs Greater KL 1 River of Life
48 8 EPPs and 3 BOs Incremental GNI of RM 125 billion 97.7% Private Investment Net 42,000 new jobs Improving Oil Extraction Rate Palm Oil Three core recommendations Proper Grading of Incoming FFB at Mill Gate FFB price must be paid based on quality of FFB received Improve Milling Efficiency 1 3 Delivery from Estates Proper FFB Grading Milling Efficiency 2 FFB Quality based Payment Increasing the OER from 20.5% to 23%
49 12 EPPs and 3 BOs Incremental GNI of RM 67 billion 97.7% Private Investment 497,000 new jobs Tourism Premier Shopping District 7 km of shopping and entertainment districts Kuala Lumpur Convention Centre Pavillion Starhill/ Lot 10 Key Connectivity KLCC (convention centre) to Pavilion s Raja Chulan bridge Pavilion across Jalan Bukit Bintang to Fahrenheit 88 Fahrenheit 88 to Lot 10 Sg Wang to Berjaya Times Square s Jalan Imbi bridge Berjaya Times Sq Sg Wang to Federal hotel/jalan Pudu
50 12 EPPs and 3 BOs Incremental GNI of RM 67 billion 97.7% Private Investment 497,000 new jobs Tourism Bio Diversity Top 10 - Terrestrial Super 7 - Marine Hornbills Proboscis monkeys Dugong Turtles Langkawi Belum K. Gula Frasers Hill Elephants Tapirs Tigers Orang Utan Major Discovery Centers Lojing Taman Negara Selangor Langurs Rafflesia Orchids Pitcher plants Johor Perhentian K. Gandah Tioman Pulau Sibu Layang layang TAR Park Limbang Mangroves Kuching Wetlands Semenggoh Coral Sharks Rays Lok Kawi Maliau Basin Mulu Macro life (Muck diving) Reef fish Sepilok Danum Turtle Island Kinabatangan Semporna Greater Sipadan Potential GBH sites Endau Rompin Bako Batang Ai
51 10 EPPs and 7 BOs Incremental GNI of RM 132 billion 99.7% Private Investment 52,300 new jobs Oil & Gas EPP : Create Oil Field Services (OFSE) 2020 Total new jobs: 40,000 Aberdeen Stavanger ILLUSTRATIVE 2020 GNI impact: USD4.5 Billion Houston What it takes to make it happen Attract major international OFSE companies to bring a sizeable share of their global operations to Malaysia Build regional champions Rationalize fabricators JVs with world class players
52 There are even more!
53 So please visit our booths booths
54 ...and give us your written feedback
55 EPPs are GNI Target (USD 15,000 per capita) catalytic and transformational Entry Point Project (EPP) Business Opportunity (B.O) Unidentified / Other Unknown projects Note : Illustrative
56 Most importantly we do not pick winners...
57 ...or play God
58 The 131 EPPs spread throughout Malaysia... Note : Illustrative
59 25 EPPs benefit rural communities 8.7 m People lives in rural areas Source : PEMANDU Team Analysis / United Nations (2007)
60 Additional Job Opportunity (rural areas) Wholesale & Retail 196,696 Oil Palm Agriculture 94,100 83,485 CCI 3,135 with Tourism 2,919 potential 320,000 jobs to be created in the rural sector
61 The remaining 106 EPPs will largely benefit urban communities 19.3 m People lives in urban areas Source : PEMANDU Team Analysis / United Nations (2007)
62 This shows we are inclusive... High Income PInclusiveness Sustainability
63 USD (billion) Note : Nominal GNI (USD billions). Assuming population by year 2020 is 31.6 million 60 Business Opportunities worth USD 112 billion (RM 275 b) (RM 442 b) (RM 661 b) (RM 359 b) (RM 1.7 t) 2009 GNI 1 2 Entry Point Projects (EPPs) Business Opportunities (Biz Opps) 3 Growth in other Sectors 2020 GNI Target
64 Business Opportunities USD 112 billion worth of opportunities to be identified in the next 10 years
65 Business Opportunities Therefore, everybody can participate Target (USD 15,000 per capita)
66 92% of the investment will come Public Sector 8% USD 34 b from the private sector 92% USD 410 b Private Sector* 100% = USD 444 billion * Includes GLCs & non-glcs
67 Private Sector The new engine of growth will come from the private sector
68 This is in line with the 10 th Malaysia Plan.. Private Sector Driven Public Sector Driven
69 73% Domestic Direct Investment (DDI)
70 Early commitment or interest from private investors is promising Category Investment USD billion No of EPPs Rating Named investor(s); Serious commitment 37 7 Close to commitment Active engagement Early discussions No discussion Total
71 NKEAs will create additional 3.3 million jobs by year 2020
72 And will also shift towards higher income 2020 Projected Salary Distribution Number of jobs, millions Low Income Middle Income High Income < RM 750 RM 750 RM 1.5k RM 1.5k RM 3.k RM 3k RM 5k RM 5k RM 7.5k > RM 7.5k 2020 (Projected) 2009
73 8% public funding will catalyze 92% of private investment USD 410 b m additional jobs USD 34 b + GNI impact per public dollar spent 1 = 7 Public Funding Private funding + Personal and corporate tax revenue could increase to USD36 b USD40 b 2
74 We will publish the ETP Book to the public P l e a s e s a v e t h e d a t e
75 That marks historic journey into becoming a high-income nation by 2020
76 3 versions for the rakyat Full version Executive Summary video Avid reader Lazy people Laziest people
77 Remember, ETP is not a Plan Strategic intent Strategic plan Blueprint Strategy document Projects Action items Timeline Project owner Targets It is a Programme
78 We have the right ingredients to succeed..
79 Malaysia is big enough for everybody..
80 We will grow our economic pie for everybody by 2020
81 Is there political will? ETP Roadmap is made public ETP is private sector led
82 Lets focus our effort in growing the economic pie action
83 talk and not get vortexed into a philosophical or an academic debate
84 So private sector must invest & grow profitably
85 Whilst public sector will facilitate and provide the necessary support
86 We are confident (like GTP) that we can do it...
87 Therefore all of us must be united..
88 ..irrespective of race, religion & political belief
89 ..and use our diversity as strength to drive the economy
90 We have seen many, many, many Malaysian companies which have successfully embraced diversity
91 There are too many examples.. Note : Illustrative
92 PM is serious that we need to transform our economy We need bold radical change We need speed of decision making & execution We must act NOW
93 This bold step & your commitment will take us closer to Vision 2020
94 Thank You
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