Transformation journey begins with 12 key economic areas
Discovery Reports
Most journeys begin with a single step, but Malaysia's economic transformation journey is unlike any other. It starts with 12 steps, each representing a key economic area and every stride working towards a unified direction - a high-income, fully developed Malaysia by 2020.
The Economic Transformation Programme (ETP) has a two-pronged approach addressing this challenge: to be focused and globally competitive.
"Focus is crucial because no one can do everything and be good in each area," says Idris Jala, PEMANDU CEO and minister in the prime minister's department.
"Competitiveness follows because, even if you are focused, you cannot achieve full development without being globally competitive."
The ETP has identified 12 National Key Economic Areas (NKEAs) that the government believes are Malaysia's strongest and most competitive sectors. These are: Greater Kuala Lumpur/Klang Valley; oil, gas and energy; financial services; wholesale and retail; palm oil and rubber; tourism; electrical and electronics; business services; communications content and infrastructure; education; agriculture; and health care.
Under the NKEAs, 131 Entry Point Projects (EPPs) and related business opportunities have also been identified to catalyse investments.
These entail active participation from the private sector, which plays a vital role in jumpstarting Malaysia's intensive growth.