Tue, 29 May 2012

Malaysian Prime Minister Datuk Seri Najib Tun Abdul Razak has announced 21 new projects across seven National Key Economic Areas (NKEAs) as part of the nation’s Economic Transformation Programme (ETP).

The projects have a total value of RM20.5bn (£4.1bn) and the potential to create 39,918 jobs.

They come in a number of different industries and geographies as the government pushes on with the ETP, which aims to make Malaysia a recognised ‘high income nation’ by 2020.

The NKEA for agriculture amounted to RM460m, and should create 2,539 jobs by 2020. In business services, the NKEA is benefitting from RM2.4bn investment, and should add 10,909 jobs.

The Wholesale and Retail NKEA will see investment of RM470m, which would contribute create 16,363 jobs.

Healthcare will receive RM107m, adding 3,735 jobs, education will get RM540 and generate 660 jobs, while the electrical and electronics EKEA will receive RM4bn investment and 1,000 jobs.

Najib comments: "Global economic headwinds are still uncertain and now, more than ever, we must keep to our true north, to focus on the key engines of growth in the economy, and to be competitive globally.”