Kuala Lumpur (The Star/ANN) - The Economic Transformation Programme (ETP) is on track as the Malaysian government announced a further 1.43 billion ringgit (US$477) in investments bringing the total to 171.21 billion ringgit in the past year.
The country's rise in the Global Competitiveness ladder from 26th to 21st, showed that the government's plans were correct as Malaysia had even overtaken the likes of South Korea, New Zealand, Israel and United Arab Emirates.
"On a cumulative basis, the ETP has to date recorded 171.21 billion ringgit in investment, 228.55 billion ringgit in gross national income and generated 372,361 new jobs," Prime Minister Najib Tun Razak said in his seventh update of the progress of the ETP.
He also revealed that 84% of the previously announced 87 initiatives were being implemented.
On latest announcements of eight new and two re-capped projects, Najib said it would create 9,965 new jobs.
He said the country received 21.3 billion ringgit in foreign direct investment (FDI) for the first half of 2011, representing a 76% surge in FDI compared with 12.1 billion ringgit in the same period last year.
Najib also announced the implementation of three new initiatives to turn the Malaysian workforce into a more skilled unit to meet the government's plan for a high-income nation.
"The first is MSC Malaysia's MyProCert, a programme to raise the skills of Malaysians towards international certification standards.
"Trained and certified Malaysians within this programme will be part of the critical supply for talent sourcing and development for industry players and potential foreign investors," he said in his speech during the ETP update held at the Securities Commission yesterday.
The second and third initiatives are the establishment of the National Talent Enhancement Programme (NTEP) and the High Performing Bumiputra SME Programme known as Teras.
The NTEP is a 12-month training programme within the Electrical & Electronics National Key Economic Areas and is open to engineering graduates and those who wish to up-skill or re-skill to enter the electrical and electronics sector.
The Teras programme is aimed at developing the next generation of world-class bumiputra entrepreneurs across all NKEAs.
Also present at the event were International Trade and Industry Minister Datuk Seri Mustapa Mohamad and Minister in the Prime Minister's Department Idris Jala.
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