Each lab set out a detailed plan that describes the

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Unformatted text preview: ork on and shape a transformative, sector-specific strategy and roadmap. Each lab set out a detailed plan that describes the aspirations, strategies and concrete action plans for one of the 12 NKEAs. These plans include the required funding, investment and labour necessary to deliver the stated aspirations. Critical to the success of the labs was intense syndication and debate among multiple stakeholders including industry experts (international and domestic), potential investors, regulatory bodies and the Government. These syndication sessions helped ensure that the initiatives were tangible and realistic. Economic Transformation Programme 77 A Roadmap For Malaysia What is a lab? A lab is an intense forum in which relevant participants (from private sector corporations and public sector agencies) are brought together in a group with the objective of finding radical yet practical and specific solutions to problems. The lab creates an environment for participants to experiment, rigorously debate and challenge the status quo. During the course of a lab, participants conduct brainstorming sessions to generate ideas, conduct analysis to determine the feasibility of those ideas and test and refine them with multiple stakeholders. Guidelines for the ETP labs In developing ideas, the labs were given specific guidance on the types of projects and initiatives expected so that initiatives would: • Contribute significantly to GNI; • Emphasise private investment-led projects with Government playing the role of a facilitator. Investment from the Government should not exceed 10 percent of the total project investments; • Be fiscally neutral or reduce the deficit; • Strengthen sector fundamentals and move Malaysia to higher value-added activities; • Allow Malaysia to reduce its dependence on resource-intensive sources of growth; • Shift the income distribution towards high-income segments; and • Reduce the number of Malaysians in low-income brackets. Methodology The labs were asked to identify initiatives that would kick-start Malaysia’s economic growth. Every initiative proposed by the labs is therefore anchored on its impact on Malaysia’s GNI. For each initiative the labs were also asked to calculate the private investment and public funding needed and the labour market implications in terms of new jobs created and skills required. The GNI impact for each initiative was calculated based on the income approach, as illustrated in Exhibit 2-2. The approach was syndicated with and endorsed by the Economic Planning Unit, Ministry of Finance, Bank Negara Malaysia and Department of Statistics. 78 Chapter 2 Overview of the Economic Transformation Programme Exhibit 2-2 To calculate the GNI impact, each NKEA lab identified initiatives that it classified as either entry point projects or business opportunities. Entry point projects (EPPs) are projects that should generate big results fast. They are clearly defined initiatives that have potential investors already ide...
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This note was uploaded on 02/24/2014 for the course ACCOUNTING financial taught by Professor Alan during the Spring '14 term at Howard.

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