The ETP is the Government's economic agenda in response to these challenges.
It also complements existing programmes, such as the GLC Transformation Programme, with similar objectives. There are four common foundations for the ETP:
1Malaysia, People First, Performance Now
The 1Malaysia concept seeks to reinforce national unity, with respect for the values of the different communities, and is anchored on the principle of fairness and equity. In economic terms, this means that opportunities and growth will be shared equitably. People First refers to a rakyat-centric approach to planning and delivery, and Performance Now shows the Government's determination to have a sharp focus on delivery and results;
Government Transformation Programme (GTP)
The GTP was introduced in 2010 to transform the Government's effectiveness in the delivery of services and to sharpen accountability for outcomes. It incorporates six National Key Result Areas (NKRAs): reducing crime, fighting corruption, improving student outcomes, raising living standards of low-income households, improving rural basic infrastructure and improving urban public transport;
New Economic Model
The Government established an independent National Economic Advisory Council (NEAC) to develop recommendations on the design of a new economic model. The council's report released in April 2010, provided a diagnosis of the challenges and opportunities facing the Malaysian economy and recommends eight strategic reform initiatives. Much of this thinking has been built into the Tenth Malaysia Plan, and the ETP; and
Tenth Malaysia Plan
The Tenth Malaysia Plan outlines the Government's development plan for the next five years. It focuses on unleashing economic growth, promoting inclusive socio-economic development, developing and retaining talent, building an environment that enhances quality of life and transforming government. It identified the 12 NKEAs that will receive prioritised policy and investment focus.