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Huang sharing his thoughts at the review session
The ETP is driven largely through private
sector investments in various forms of
Public-Private Partnerships. The ETP is
work-in-progress, and revisions based on
feedbacks are necessary. I believe Malaysia
will see bigger and faster results in 2012
as the key ETP initiatives gain further
traction. The key challenges are to remain
focussed and to maintain the momentum
in a challenging political economy
environment.
H.E. Sueng Jun Kwak
The achievements Malaysia has made so
far are remarkable. Based on the 2011
annual report, results for all 12 NKEAs were
quite impressive. However, the ETP is in
its early stage, so most of the targets are
quantitative and relatively easy to achieve.
Therefore, in order to make qualitative
progress and achieve targets in the long
run, more attention needs to be focussed
on supplementing the key performance
index and relating the index to the
objectives of the ETP.
The global economic uncertainty is
expected to have negative impact also
on emerging countries. However, there
are always opportunities amid the crises.
Although the ETP is going in the right
direction with practical programmes so far,
it may need some flexible revision in tune
with its long-term goals.
I believe that the six Strategic Reform
Initiatives are a step in the right direction.
It is important to reform regulation so that
domestic companies are not disadvantaged
when competing with global companies.
The privatisation of public companies is
necessary for efficient management and
enhanced competitiveness. However,
corporate social responsibility and market’s
function of public benefit need to be
emphasised as private companies become
more influential than the government.
Continued investment in Human Capital
Development (HCD) SRI to ensure matching
between supply and demand of talent is
crucial. Since education is also included in
the GTP and ETP, the HCD SRI needs to be
interlinked with the two Programmes.
In the areas of competitive market, human
capital development, narrowing disparities,
the concept of business ecosystem needs
to be considered so that large companies
and SMEs can work and grow together in
the key industries. For example, Apple’s
competitiveness comes from the
competitiveness of Silicon Valley’s business
ecosystem.
Overall, I would commend the effort of
the Prime Minister and PEMANDU for the
significant progress made in the Economic
Transformation Programme (ETP) and the
Government Transformation Programme
(GTP).
“
International Performance Review
I believe that the six
Strategic Reform Initiatives
are a step in the right
direction. It is important
to reform regulation so
that domestic companies
are not disadvantaged
when competing with
global companies. The
privatisation of public
companies is necessary for
efficient management and
enhanced competitiveness.
H.E. Sueng Jun Kwak
Presidential Council for Future
and Vision of the Republic of
Korea, Chairman
”
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