RM1.3tril investment road map

KUALA LUMPUR: Malaysia yesterday unveiled an ambitious 10-year economic road map involving investments of about US$444 billion (RM1.3 trillion) to power the nation towards becoming a high income economy by 2020.

Minister in the Prime Minister’s Department Datuk Seri Idris Jala, who is also Performance Management and Delivery Unit (Pemandu) chief executive officer, laid out the plan, conceived primarily to get Malaysia out of the middleincome trap.

The Economic Transformation Programme (ETP) would see the country’s gross national income (GNI) grow at six per cent annually to hit US$523 billion by 2020, from US$188 billion last year. Some 3.3 million new jobs are expected to be created.

The RM1.3 trillion proposed investments were unheard of in any previous single development plans in Malaysia but Idris was confident the money would be raised.