Malaysia On Right Path To Achieve Hig-Income Status By 2020, Says Minister

KUALA LUMPUR, Nov 10 (Bernama) -- Malaysia is on the right path to achieve high-income status by 2020, given the one-year implementation of the Economic Transformation Programme (ETP) has yielded positive results. Minister in the Prime Minister's Department, Idris Jala, said the numbers achieved were encouraging and above expectations. "Malaysia is doing everything it can to transform itself into a high-income nation. "With the programmes and policy measures, I am sure we will not go bankrupt," he told a media briefing after delivering a keynote address at a forum organised by Ernst & Young on "Decoding the DNA of the ETP" here Thursday. Idris said on job creation, cumulative investments and gross national income (GNI), which were among the main pillars for the realisation of ETP, they have achieved a target of over ten per cent respectively. "For 2011, the government has targeted a GNI of RM494 billion (US$1=RM3.14) and as at June 2011, we have achieved RM285 billion, or 56 per cent. "For the first year of implementation, we have already scored 13 per cent in GNI of the ten-year target of at least RM1.4 trillion by 2020. "I am confident that we would achieve the target given the numbers are very encouraging. "However, we still have to wait for the official announcements from the Statistics Department and Bank Negara Malaysia (central bank)," he said. On another development, Idris urged Malaysian small and medium entrepreneurs (SMEs) to have confidence in the domestic economy and invest here to develop and expand their businesses. He said the government had dished out 131 entry-point projects under the ETP but the take-up rate was not encouraging. "We want the SMEs to explore new business ventures in many sectors that we have identified in the key areas," he said. -- BERNAMA