Prime Minister Datuk Seri Najib Tun Razak unveiled an additional nine new projects today under the Economic Transformation Programme (ETP) that will rake in RM2.26 billion in investments, including savings and generate RM11.71 billion in Gross National Income (GNI) by 2020.
Among the projects include boosting tourism facilities at Pangkor Island, intensifying irrigation, enhancing paddy production and raising farmers' income, cultivation of fragrant rice, healthcare projects, upstream value-added palm oil products, as well as a reneweable energy park in Nilai, including biogas and solar power facilities.
"These projects are proof points that the Economic Transformation Programme (ETP) remains in high gear," he said when unveiling the Fourth Economic Transformation Programme Update today.
More importantly, he said the ETP now has a visible catalytic effect on the economy as seen from the committed investment from Entry Point Projects (EPP) and base load projects as well as expected rise in real income.
Also present at the function was International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Minister in the Prime Minister's Department and Chief Executive Officer of the Performance Management & Delivery Unit or PEMANDU Datuk Seri Idris Jala.
Leading the list of new projects is an EPP under the Tourism National Key Economic Area (NKEA), whereby Globalports Sdn Bhd,
Bina Puri Properties Sdn Bhd and Marina Sanctuary Resort Sdn Bhd will invest RM600 million to develop a ferry, cruise and yacht passenger seaport infrastructure and a waterfront property development at the Marina Island Pangkor International Resort & Entertainment Extension project called Island 3.
It is expected to generate a GNI of RM9 billion by 2020, he said.
Najib also said that healthcare, as a global industry, was among the most dynamic and rapidly growing industries in the world and was also quickly becoming a powerful engine of economic growth.
Tapping into this potential, General Electric Malaysia, in conjunction with local partners including REDtone International, is investing its technology and expertise to develop a teleradiology hub.
By linking public and private sector radiologists in Malaysia on a teleradiology grid, this hub will serve to redistribute reporting workload in Malaysia and build capacity which will generate GNI by in-sourcing teleradiology services from overseas.
Najib said the project was expected to have a GNI contribution of RM540 million and create 1,500 jobs by 2020.
Under the Agriculture NKEA initiative to scale up and strengthen production of paddy farming in the Muda Area in Kedah, the Muda
Agriculture Development Authority (MADA) will invest RM99.6 million this year to intensify irrigation in the region as well as incentivise smallholders to lease their land or agree to be managed on a profit-sharing basis by larger operators.
Farmer income is expected to increase between 30 and 50 per cent by 2020, with a GNI contribution of RM1 billion, he said.
In addition, the Malaysian Agricultural Research and Development Institute (MARDI) has developed two specialty fragrant rice varieties, which share many characteristics with foreign fragrant rice.
A total investment of RM26.6 million is expected from the public-private partnership between MARDI and Infoculture Sdn Bhd to introduce fragrant rice cultivation in non-granary areas and market them as specialty fragrant and organic rice, respectively.
This initiative will have a GNI impact of RM133 million by 2020, he said.
Najib also announced a RM416.2 million investment led by the Emery Oleochemicals Group in three sub-projects to produce bio-lubricant and green polymer additives as well as surfactants for home and personal wellness products, which was greatly welcomed.
It will contribute RM155 million in GNI in 2020, creating 86 new positions.
Emery Oleochemicals is a 50:50 joint venture between Sime Darby Plantation and PTT Chemical International, a wholly-owned subsidiary and international investment arm of PTT Chemicals PCL of Thailand.
In the Electrical and Electronics area, QAV Technologies Sdn Bhd will invest RM12 million to develop a light emitting diode and solid state lighting certification centre in Penang.
This facility, which is the first outside the USA, will be able to perform certified testing per American National Standards Institute (ANSI) certification, and will verify the compliance of Malaysian products to global standards.
It is expected to attract customers from Malaysia, other parts of Asia, the US and Europe, and produce a GNI impact of RM510 million by 2020.
On the energy efficiency front, Faber Group Bhd will spearhead the proposed project on Energy Performance Management System (EPMS) and has commenced energy audits at five public hospitals to ensure efficient use of energy.
This project is estimated to result in RM18 million savings by 2020.
On renewable energy, Cypark Resources Bhd is investing RM94.29 million to build a renewable energy park on a 26-hectare remediated landfill site in Pajam, Nilai.
Comprising 2-Megawatt(MW) biogas plant and an 8-MW solar power facility, the renewable energy park is expected to generate a GNI of RM12.16 million in 2020.
Najib said the success of this pilot project could catalyse similar projects in 31 other landfill sites in Peninsular Malaysia.
Local authorities, where the landfills are situated, will be able to capitalise on this new source of income and are required to do so on a open tender basis. -- Bernama
Source: Business Times, 8 March 2011