Embargoed until 8.30pm on 26 April 2016
NTP continues to promote growth, resilience and confidence
Transformation programme delivers results in 2015
PUTRAJAYA, 26 APRIL 2016 – The National Transformation Programme (NTP) continues to address crucial socio-economic areas in delivering impactful results for the country.
In 2015, Key Performance Indicators for the Government Transformation Programme’s National Key Result Areas (NKRAs) registered 99 percent whilst the Economic Transformation Programme’s National Key Economic Areas (NKEAs) and Strategic Reform Initiatives (SRIs) recorded 109 percent and 108 percent respectively.
Guided by the New Economic Model (NEM) announced in 2010 by the Prime Minister, Dato’ Sri Mohd Najib Tun Haji Abdul Razak, the NTP was mandated to lift Malaysia out of the middle-income band while aligning the country’s socio-economic landscape with that of developed nations.
Addressing the nation on transformational results achieved thus far at the launch of the NTP Annual Report 2015 on Tuesday, Prime Minister Dato’ Sri Mohd Najib Tun Haji Abdul Razak, affirmed that the country remains on track in its journey towards high income status by 2020.
Meanwhile, CEO of the Performance Management and Delivery Unit, Dato’ Sri Idris Jala said, “We began our transformational journey by taking an interventionist approach, tackling challenges, needing big fast results. Today, we have shifted gears to sustain and institutionalise the changes. Since 2010, our transformation initiatives have progressed well according to plan, on the back of steady economic growth year on year.”
The NTP Annual Report 2015 highlights stories of growth, resilience and confidence that the country continues to display amid uncertainties in the global economic environment.
“Structural reforms introduced under the NTP continue to place our country’s economy on a growth trajectory with the private sector increasingly taking the lead in investing for growth. In 2015, private sector investments contributed to 65 percent of investments. This is a sign of enduring confidence by the business sector in Malaysia,” Idris said.
From a social standpoint, rural and urban development initiatives have gained traction over the last five years, benefitting millions of Malaysians.
“Under NKRA Rural Development for example, more than 5.5 million Malaysians living in rural areas now have access to basic necessities such as clean water, 24 hour electricity supply and roads that connect them to towns,” Idris said.
In 2010, the Government projected that the population in the Greater Kuala Lumpur/ Klang Valley area would grow to 10 million by 2020 and there was a compelling need to improve liveability in the city, Idris said.
“Today, we are on track to establish a world-class urban public transport system that is convenient and reliable under the Urban Public Transportation NKRA. Phase 1 of the LRT Ampang Line Extension Project kicked off on 31 October 2015 with the
opening of four stations in Awan Besar, Muhibbah, Alam Sutera and Kinrara BK. With these new lines, we’ve seen an increase in ridership of 4000 commuters to the 190,000 total LRT users,” he said.
The Klang Valley MRT project, under the Greater Kuala Lumpur/ Klang Valley NKEA is envisioned to be a game-changer in increasing mobility, productivity and quality of life and is on schedule for commencement of the first phase. With a ridership
capacity of 400,000 commuters daily, MRT Line 1 – Sungai Buloh – Semantan – is expected to be operational as scheduled by end December 2016. The full line – Sungai Buloh – Kajang- is expected to be operational by July 2017, he added.
In 2011, when the strategic reform initiatives or SRIs were launched, the goal was to create a competitive business environment conducive for private sector players to thrive. The World Bank’s Ease of Doing Business 2016 Report yielded positive results as Malaysia’s efforts to introduce reforms, placing the country among the top 20 global economies at 18th position. Additionally, the World Economic Forum ranked Malaysia among the 20 most competitive countries in the world in its Global Competitiveness Report 2015-2016. At 18th position, Malaysia obtained its highest ranking since 2005, apart from also being the highest-ranked developing Asian economy, Idris said.
“These achievements are a testament to the commitment of the civil service, private sector and many Malaysians who have tirelessly contributed efforts in supporting the national aspiration for Malaysia to become a high income and developed nation in 2020,” he said.
“There is no doubt that 2016 will be a challenging year for Malaysia, like many other nations that are dealing with uncertainty in the global economy. Regardless, we can take comfort that even in this trying times our economy registered modest growth of 5 percent in 2015 with external agencies such as World Bank, IMF, Moody’s and others commending the Government for having taken the right measures to diversify the economy and build fiscal resilience,” he said.
Idris added, “The work does not stop here. With four more years left to reach the finishing line, the Government together with the private sector, must remain committed to seeing this programme to its completion in 2020.”
Moving forward, he stressed that one of the areas of priority to sustain the high income status involves getting local companies to step-up on innovation to be able to produce world-class products and services and thrive in competitive global markets.
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