KUALA LUMPUR — March 23, 2018: The National Transformation Programme (NTP) continued to deliver impressive results last year, surpassing its roadmap investment target as well as achieving the key performance indicators (KPIs) for its main components.
In a statement today, the Civil Service Delivery Unit (CSDU) of the Prime Minister’s Department said according to the NTP annual report 2017, the programme’s seven National Key Result Areas (NKRAs), 12 National Key Economic Areas (NKEAs) and five Strategic Reform Initiatives (SRIs) reflected the results delivered, recording a KPI achievement of 111 per cent, 109 per cent and 119 per cent respectively.
A total of RM1.8 trillion in investments were also recorded between 2011 and 2017, surpassing the initial NTP Roadmap target of RM1.4 trillion.
The annual report was launched today by Prime Minister Datuk Seri Najib Razak.
The report said 2017 was a year of delivery and impressive results led by the government’s initiatives implemented under the NTP, which continued to herald socio-economic change in its eighth year of implementation.
“The country had made good progress towards achieving high-income status, with the country’s gross national income (GNI) per capita reaching US$9,660 (US$1 = RM3.90) in 2017.
“This brings the gap between Malaysia’s GNI per capita and the World Bank’s current high-income threshold to 20 per cent, from 33 per cent at the start of the NTP’s economic transformation in 2010,” it said.
The NTP was launched by Najib in 2009 to implement socio-economic reforms and transform Malaysia into a high-income nation.
In January 2017, the PM’s Office announced the commencement of the NTP’s final transitional phase with the handover of NTP coordination work from the Performance Management and Delivery Unit (Pemandu – now known as Pemandu Associates) to CSDU over a two-year period.
The report said the Malaysian economy further demonstrated resilience and sustainability with the fiscal deficit reduced by more than half from 6.7 per cent in 2009 to three per cent in 2017.
Gross domestic product (GDP) growth exceeded all projections and recorded a growth of 5.9 per cent.
Additionally, the ratio of public debt to GDP, which was at 51 per cent in 2017, remained below the government’s self-imposed limit of 55 per cent.
The NTP has successfully returned the private sector as the engine of growth, with private investment accounting for 68 per cent of total investments in 2017, growing at a compounded annual growth rate (CAGR) of 10.5 per cent from 2010 to 2017.
It also achieved significant strides in fostering inclusiveness in the economy, contributing to the decline in Malaysia’s poverty rate to 0.4 per cent as at 2016 from 3.8 per cent in 2009 through programmes such as 1AZAM under the Rising Living Standards of Low-Income Households NKRA.
As at the end of 2017, the Poverty Eradication Programme (1AZAM) increased the overall income of 100,420 individuals, or 91 per cent of the programme’s monitored participants to-date, by at least RM300.
Overall, Malaysians experienced an increase in household income between 2009 and 2016. The mean monthly household income increased to RM6,958 in 2016 from RM4,025 in 2009, representing a CAGR of 8.1 per cent.
Significantly, the Bottom 40 per cent income group (B40) recorded the highest growth in household income among all income strata, with mean monthly household income for the period 2009 to 2016 outpacing overall growth in income, rising 10.2 per cent to RM2,848 in 2016 from RM1,440 in 2009.
The NTP’s initiatives further delivered meaningful contributions to the well-being of Malaysians, businesses and the economy.
Among them were:
The completion of the Mass Rapid Transit Line 1 (Sungai Buloh-Kajang) in July 2017, ahead of time and below budget, as well as the establishment of the regional office or headquarters of 73 multinational corporations (MNCs) since 2011 with 10,971 jobs committed, under the Greater Kuala Lumpur/Klang Valley NKEA;
An average daily riderships of 1.21 million recorded under the Improving Urban Public Transport NKRA through infrastructure upgrades, capacity building and provision of new public transport modes;
The transformation of 6.8 million lives from 2010 to 2017 through initiatives under the Rural Development NKRA, with 6,868 km of roads built and upgraded, 354,400 households connected to water supply and 161,931 households provided with access to electricity;
The disbursement of RM6.31 billion in BR1M payments to 7.22 million eligible families and individuals under the Addressing the Rising Cost of Living NKRA;
The 12,300 participants who joined the Raising Living Standards of Low-Income Households NKRA’s e-Usahawan programme generated RM24.3 million in income;
Malaysia emerging as the world’s third-largest producer of solar photovoltaic cells and modules in 2017 under the Electrical & Electronics NKEA;
The establishment of 39 oil and gas, services and equipment (OGSE) MNCs in Malaysia since 2011 under the Oil, Gas and Energy NKEA;
The passing of the Employment Insurance System Bill 2017, Private Employment Agencies (Amendment) Bill 2017 and the Self-Employment Social Security Act 2017 led by the Human Capital Development SRI; and,
The creation of RM122.2 billion in business opportunities since 2011 under the Narrowing Disparity SRI was also established.
NTP said the results demonstrated the government’s delivery of promises made when it was launched in 2009.
Going forward, it said, the government remained committed to steering the country towards the completion of the transformation and into Malaysia’s next phase of growth to be crystallised by the National Transformation 2050. — Bernama