(Also published on The Malaysian Insider)
ETP: Part 1 — Introducing DEEDS
Dr. Ong Kian Ming & Teh Chi-Chang
Let’s evaluate PEMANDU on its DEEDS.
The Economic Transformation Programme is ambitious indeed. The ETP promises to double gross national income (GNI) per capita to RM48,000 by 2020 from RM23,700 in 2009. An average 6 per cent per year real income growth over 10 years and 12.8 per cent per year private investment growth over five years is required to achieve this. Ultimately, RM1.4 trillion of investments in 131 Entry-Point Projects (EPPs) within 12 National Key Economic Areas (NKEAs) will create 3.3 million new jobs.
Predictably, there are critics. Any plan as bold as this is bound to attract critics. But the attacks so far have mainly been against specific projects, such as the MRT and 1 Malaysia email; carping about the slick façade and expensive costs at PEMANDU — the Performance Management and Delivery Unit, Prime Minister’s Department — the government agency that created and is now steering the ETP; or questioning the viability of its lofty targets.