ASEAN KEY DESTINATIONS
Malaysia meets investment goals
“Based on the indications so far, we can confidently say that the private investment target of RM83bil for 2011 is achievable,” Minister in the Prime Minister's Department Datuk Seri Idris Jala.
Jala, who is also the chief executive officer of Performance Management and Delivery Unit, said Pemandu's data showed that the country had planned investment projects with a combined value of up to RM127bil this year.
The number, he said, was based on the estimated value of the Entry Point Projects (EPPs) that would be realised in 2011 under the Government's Economic Transformation Programme (ETP) as well as the feedback from the private sector.
“Even if we realised only 70 percent of the planned projects by the end of the year, our total private investments (at RM89bil) for the year would still have exceeded our target,” he explained.
Separately, he also revealed that the government was set to announce up to 10 new projects under the ETP by the end of this week.
“More details pertaining to those projects will only be made available during the announcement scheduled on Friday,” he said
The announcement of the new set of projects, involving both domestic and foreign investments, will mark the fifth significant milestone for ETP.
Since the launch of the roadmap in October last year, four progress updates involving a total of 60 projects valued at RM95.35bil had already been confirmed up to March this year.
The number of projects confirmed so far, which represented 35 percent of the total number of EPPs identified under the ETP and 12 percent of the targeted EPP investments were expected to raise RM137.2bil to the country's gross national income (GNI) and create 224,358 jobs.
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