Strategic Reform Initiatives (SRIs) comprise public policy areas aimed at strengthening
Malaysia's global competitiveness through 37 policy measures recommended by the
National Economic Advisory Council (NEAC)1
The six SRIs comprise:
From improving the government's delivery system to promoting the use of world-class
standards and encouraging progressive liberalisation, the SRIs focus on elevating
the competitiveness of Malaysian companies and fostering a business-friendly environment
conducive for private investment inflows. Together with the NKEAs, the SRIs support
the government’s goal of transforming Malaysia into a high-income economy
which enjoys sustainable and inclusive growth.
To-date, the SRIs have recorded significant achievements in raising Malaysia's competitiveness
and improving the private investment landscape, contributing to an exponential growth
in private investment from 6.7% in 2010 to 22% in 2012.
The implementation of the SRIs have also resulted in successes including the enforcement
of the Competition Act 2010 on 1 January, 2012, the opening up of 15 out of 18 sub-sectors
identified for liberalisation and the adoption of internationally-accepted standards
through the Competition, Standards and Liberalisation SRI.
Among other achievements recorded through the implementation of the SRIs is the
reduction in the Government’s holdings of Government-linked investment companies
(GLICs) through the Reducing Government's Role in Business SRI, helping to create
a freer and fairer market for the private sector. This also resulted in multiplier
effects for the economy and helped improve liquidity in the stock market, such as
through the listing of Government-owned Felda Global Ventures Holdings Bhd in June
2012. The initial public offering raised a total of RM9.93 billion in what was one
of the world’s largest public floats during the year.
1 The NEAC was established by the Prime
Minister in May 2009 to formulate a New Economic Model (NEM). The NEM, in turn,
was designed to transform Malaysia into a high-income economy by 2020. Its recommendations
were translated into the ETP.