How will the government meet its investment target of RM1.4 trillion under the Economic Transformation Plan (ETP) over the next nine years?

DAP national assistant treasurer Nga Kor Ming posed the question, also saying that the plan has been launched without taking into consideration the nation’s financial standing.

 

He describe NONE d the ETP as ‘pie in the sky’ (an American saying for ‘a promise of heaven, while continuing to suffer in this life’ according to an online dictionary).

“With the national debt nearly hitting RM400 billion and 15 consecutive years of budget deficit, it would be unreliable and unrealistic to rely on the BN government to implement the plan,” he argued.

He said the public must be aware that 60 percent of the ETP will rely heavily on foreign direct investment (FDI).

“This means that Malaysia must attract RM84 billion annually in FDI for 10 consecutive years,” he said, comparing this to only RM4.4 billion achieved last year.

“How does anyone in their right mind expect the FDI to increase 20-fold every year compared to that in 2009?”

The ETP was launched yesterday. Its targets are to be achieved through 131 Entry Point Projects and 60 business opportunities, with 92 percent of the funding to come from the private sector.    

About 3.3 million jobs are expected to be generated by 2020.