Despite the recently announced Economic Transformational Project (ETP) by the Prime Minister to further develop the nation into a high-income country from the current mid-income one, numbing questions started to surface on how specifically the success of ETP may be reached mainly due to the concerns about the weak global economic waves and instability of various businesses around the world. The visions to create a high-income Malaysia is rather exclusive and extravagant, due to which the ETP was announced in early 2011 where the future of many current economic efforts are quite inconclusive.
The ETP promises RM67 billions worth of investments most prominently in the oil and gas business, healthcare and data center among other related industries that require vast amount of not only monetary power but as well technologies to be continuously pumped into the country. Apart from the large number of more than 35,000 allocated jobs once the ETP is in its growing period, the absolute success of the plan is still in question. The rigidity of the plan is very astounding, but yet perhaps the total faith in the mega project is still not properly conceived by the people of Malaysia.
Many Malaysians too do not know or/and properly understand the government's aim in launching the ETP. Negative comments flow continuously towards the mover of the project, though rather finely expected, but it seems that the project still faces the problem in convincing the people of its outcomes. Best described as still in its initializing era, the ETP does not deserve quick justifications and meets its predicted verdict quicker than expected, as is supposed to be allowed to quickly initiate and meet its objective prior to the whole blue plan described by Dato' Seri Najib Razak, the prime minister of Malaysia, recently.
The effects from the project are highly beneficial in terms of economic drive and social responsibilities. With growing numbers of experts currently penetrating the rich hydrocarbon deposit blocks within the Malaysian water, the oil and gas industry is seen to hit its new transformation in terms of better hydrocarbon management and refurbishment of old offshore complexes to increase daily oil productions. In terms of deepwater technology, the valuable information transfered into this country is important, mainly supported by the amount of hydrocarbon deposits still lying up to more than 2,000 meter below water surface in certain oil blocks off Sabah shorelines.
Other than the main concerns about possible nuclear disasters, the government has made the right decision to establish a nuclear powerplant to power up the nation's electricity lines. Currently depending on mainly coal and hydroelectric motive powers, the aging plants are not sufficient to supply the growing demands of energy currently faced by the country today. The limited geographical area suitable for dams makes it difficult to build one, and further dependency on coal may introduce the country to higher expenditure due to the hiking price of coal worldwide. Nuclear disaster from failing nuclear powerplants, though possible, is heavily overrated mainly due to lack of information about just how nuclear power sources are managed, other than being a second attempt to erect a nuclear facility in this home ground of Malaysian.
Heavy development in pharmaceutical and medical sectors will soon improve the health of the people and reduce the dependencies on foreign advices on the mentioned sectors. Increment in knowledge in the sectors will further provide the local experts with information on health handling and management, hence lowering the needs to employ non-locals for health consultations. With these available knowledge and experties, average medical costs may be reduced hence makes it affordable for everyone to enjoy health benefits necessarily. This may also apply for tourism and education transformation projects too, where instead of sending local students out, Malaysia will soon be able to attract non-locals to enroll into new education centers established in this country.
Following the slow-moving agricultural sector in Malaysia, the agricultural expansion pack also included in the ETP will boost the sector forward at a recognizable rate in not only conventional cultivations but also advance techniques in mass food production to sustain the needs of Malaysians overall. With growing biotechnology industries in the country, Malaysia is looking into a total development in food cultivating culture, in line with the government aim to provide food for everyone from home-grown products hence declining the needs to import large quantities of food from other world countries. In later years, with continuous efforts and good management, this objective may be met, provided that as a tropical country located near the equator with vast amount of fertile land and continuous supply of the sun, Malaysia does not have any problem particularly in cultivating large crops for food processing.
Another good effort also enlisted in the 19 projects is to develop a high intelligent country by promoting mass investments in the education sector. As per current date, Malaysia lacks of academicians and hence highly educated experts that are valuable assets in managing a high income country. This serious problem may soon meet its solution when the people can properly choose their education options from large offers from many education centers in the country. With increasing number of postgraduates in the country, better management and education systems are highly anticipated. With sufficient highly educated professional movers, Malaysia may be able to hit the Vision 2020 with an easy pace.
However, the ETP is still in its early progression and needs to be evaluated and properly and carefully monitored to ensure better outcomes. It is important to stay optimistic for now unless there are proven links and signs that the plan may not be as successful as it is hoped for, if not extremely a failure. The heat can now be experienced with more and more ideas, opinions and actions are pumped into the ETP effort bank by daily basis, and with good management, it is not impossible that the ETP may be the largest and most successful tool to providently sustain not only the energy, social and commodity businesses but also the wellbeing of the Malaysian people entirely for years to come.