etp_handbook_chapter_1-4_economic_model

Etp_handbook_chapter_1-4_economic_model

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Unformatted text preview: work together – in a new way – towards a clear, common goal of becoming a high-income nation by 2020. The ETP is fundamentally different from many other government programmes. While the Government is held accountable to architect and facilitate the process, the private sector will be attracted to take ownership for, invest in and deliver EPPs under this programme. While the scale of funding is large, it will be transparently and swiftly allocated, based on merit, to a set of carefully defined EPPs, which will be initiated and carried out by the private sector. Challenging issues and potential delays may arise, and when they do, the Government commits to serve as an accessible partner to drive through rapid resolution. In this spirit, we set out to achieve a level of accountability and efficiency that has rarely been seen in public-private sector partnerships before. The Government promises to: • Ensure the private sector owns EPPs wherever possible, shifting the public sector’s role to providing support and facilitation; • Fast-track amending regulations, removing barriers and establishing other enablers that are specifically required by EPPs; • Avoid crowding out private sector investment and focus investment of public funds only as a catalyst; • Award public contracts for funding EPPs using a merit-based, market-friendly, transparent and rapid process; • Revamp Malaysian Industrial Development Authority (MIDA) to effectively attract foreign and domestic investment at the targetted EPPs; • Regularly seek and responsively act on feedback from the private sector; • Provide annual reports to objectively assess the impact of the ETP; and • Maintain the ETP as a national priority, ensuring it is prioritised in terms of leadership attention, funding and support. Economic Transformation Programme 113 A Roadmap For Malaysia ALL OF GOVERNMENT WILL COME TOGETHER AND PARTNER WITH THE PRIVATE SECTOR TO ENSURE DELIVERY The process of transforming an EPP from an idea into a fully executed project that has delivered GNI impact and new jobs requires several components. Delivery ownership is needed to ensure that there is always a single point of accountability. As part of the labs, the private sector has co-created the ideas, developed implementation and funding plans and identified the required enablers for the EPPs. While many of the EPP owners identified are part of Government, these owners are considered to be initial caretakers that will manage a transparent process to select EPP owners and allocate funds. As part of this process, the private sector will drive EPP implementation. Support is needed to ensure that required enablers are in place. For example, building an eco-tourism resort requires more than just private sector actions. Implementation might require putting in regulations to restrict maritime activity that damages coral, building roads to provide access to new areas or other supporting actions. It is the Government’s role to eliminate these hurdles, ensuring that the required enablers a...
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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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