To achieve success, we will have to transform the Entry Point Projects (EPPs) into fully delivered projects.
Critical to the implementation of each EPP are three areas—delivery, support and funding.
In these, the Government and private sector however will have different focus areas. The Government will be focused primarily on providing support and high-impact funding. Its role is to ensure that all the relevant enablers are put in place, while removing any hurdles and process delays. Playing a complementary role, the private sector is focussed most heavily on funding and delivery. Its role is to fund EPPs with the highest return on capital in sectors where it has proven experience. Companies will also serve as the primary owners for EPP delivery, except in the few cases where it is more natural for the Government to take ownership.
While the private sector will lead the delivery of EPPs and will have responsibility for funding these projects, it will also need to highlight areas where support is required.
"As such all of the Government will come together to ensure delivery"
Here are the examples of the roles of Government agencies:
Ministries will predominantly play a supporting role
To resolve any issues that may arise in the implementation of EPPs. However, some ministries may have accountability for the delivery of selected EPPs (varies depending on the NKEA
), especially where no natural private sector owner exists;
Regulators will play a supporting role
Some EPPs may require amendments in regulations or need sector specific incentives. In addition, regulators will coordinate and bring together a group of industry players to collectively implement an EPP or part of an EPP. They will also assess ways to mitigate risks under these projects;
The Economic Planning Unit and the Ministry of Finance
Will allocate and disburse the funding for EPPs where public funding is required;
MIDA will play a supporting role for many EPPs by attracting investment
Through marketing and business development activities targeting foreign and domestic investors. MIDA will also seek EPP owners, negotiate incentives where necessary and serve as a one-stop shop for investor contact. In some instances, MIDA may lead the first stage delivery of EPPs in the interim, especially those wholly dependent on foreign investment;
Talent Corporation will provide support to EPPs
By executing programmes to attract and retain talent. Similar to MIDA, it may be accountable for the delivery of select EPPs, especially those dependent on attracting talent;
PEMUDAH (a special taskforce to facilitate business), the rebranded and restructured Malaysia Productivity Corporation
Will provide support to NKEAs by reviewing and recommending changes to existing regulations and policy with a view to remove unnecessary rules and compliance costs and improve the speed and ease of delivery;
UKAS (Unit Kerjasama Awam Swasta)
A unit under the Prime Minister's Department to facilitate public-private partnership (PPP) will provide support to EPPs eligible for funding via the Facilitation Fund and in structuring PPPs where relevant; and
Government-linked investment entities
Like Khazanah Nasional Berhad and PNB (Permodalan Nasional Berhad) will provide funding support by co-investing in EPPs that meet their investment criteria