KUALA LUMPUR Oct 25 - The Economic Transformation Programme (ETP) has shown encouraging results to achieve 45 per cent of the investment target. Prime Minister Datuk Seri Najib Tun Razak said based on the government"s monitoring, about 45 per cent of the total investment of US$97 billion, which represented 53 Entry Point Projects (EPPs), were now at various stages of active discussions.

"All the projects showed that the ETP has started to show initial positive results and the government will announce more new investments soon.

"We have proven wrong those who are suspicious of ETP," Najib said at the launch of the Economic Transformation Programme: A Roadmap for Malaysia here today.

Najib, who is also Finance Minister, said one important component in the implementation of EPT was the setting up of an administrative structure that was transparent and systematic. "On my part, I will give an assurance that the respective ministers will monitor the achievements of the EPPs and investments and this will form part of the means to gauge their performance," he said.

Various ETP projects have taken off. Among them are: A German company, Lfoundry GmbH, will set up five fabrication clusters in the Kulim Hi-Tech Park within five years.

Mydin Mohamed Holdings Bhd plans to open 14 more branches nationwide with an investment of RM1 billion within three years.

St Regis plans to open a 208-room hotel and 160-unit The Residence at the 2.2-hectare site at KL Sentral.

Schlumberger, oilfield services provider, has set up its Eastern Hemisphere Global Financial Services Hub in Bandar Utama, Selangor as part of the Greater KL/Klang Valley initiative. Malaysia Airports Holdings Bhd has awarded a 25-year concession to WCT Bhd to build RM486 million integrated complex at KLIA2.

Mubadala, from West Asia, to collaborate with 1MDB to develop KL International Financial District at a cost of RM26 billion on 34-hectare site near Jln Tun Razak.

Premium Renewable Energy to build five bio-oil plants over five years. The first will be at Lahad Datu, Sabah costing RM124 million. The Higher Education Ministry has selected Asia e-University as the gateway university for international education for distance and online learning. It is expected to generate RM100 million.

Johor Premium Outlet at Genting Indahpura offers designer labels at less than retail price. The investment is expected to cost RM150 million.

- BERNAMA