The 12 National Key Economic Areas (NKEAs) comprise selected sectors of economic opportunity for the private sector which will drive Malaysia towards high-income status and global competitiveness. While Malaysia already has a competitive advantage in some sectors and the potential to carve a niche in others, the NKEAs underscore Malaysia’s targeted approach to achieving sustainable economic growth.
NKEAs receive prioritised Government support due to their potential to enhance GNI1
, although the Government also remains committed to developing non-NKEA sectors. It is important to note that while the NKEAs were chosen to lead the country’s economic growth, non-NKEAs will continue to play an important role in Malaysia’s transformation. This is as the non-NKEAs are projected to benefit from multiplier effects created through the implementation of the NKEAs, signifying the catalytic nature of the NKEAs.
The implementation of NKEAs is overseen by the relevant Ministry /Ministries, which coordinate, monitor and track the progress of the sectors. To realise private sector-driven growth, each NKEA offers private sector involvement and investment opportunities through Entry Point Projects (EPPs).
To-date, 149 EPPs have been announced from a list of 159 identified EPPs. These EPPs guide the development of the industry or sector and were formulated through public and private sector consultations during labs held in 2010.
The NKEAs also identify Business Opportunities (BOs) which can be developed to achieve future growth.
1Gross National Income