ICP LIKELY TO NET US$17.5B IN IN­VEST­MENTS

Govern­ment ini­tia­tive will en­sure best value for money on pro­cure­ment pro­gramme

New Straits Times - - Business -

KUALA LUMPUR

THE In­dus­trial Col­lab­o­ra­tion Pro­gramme (ICP), a govern­ment ini­tia­tive to en­sure best value for money on a pro­cure­ment pro­gramme, is ex­pected to cre­ate more than US$17.5 bil­lion (RM77.19 bil­lion) in in­vest­ments by 2020.

Sec­ond Fi­nance Min­is­ter Datuk Seri Jo­hari Abdul Ghani said the target was achiev­able de­spite cur­rent eco­nomic un­cer­tain­ties.

“The ICP will strengthen the build­ing blocks for Malaysia to be a high-in­come and pro­duc­tiv­i­ty­driven econ­omy,” he said at the Global Off­set and Coun­ter­trade As­so­ci­a­tion Asia Pa­cific Con­fer­ence 2017, here, yes­ter­day. “I be­lieve Malaysia can at­tain greater achieve­ments fol­low­ing the ICP’s im­ple­men­ta­tion, pro­vided syn­ergy is de­vel­oped among stake­hold­ers.”

Jo­hari urged procur­ment agen­cies to view the ICP as an op­por­tu­nity to share eco­nomic ben­e­fits with stake­hold­ers and cre­ate a sus­tain­able busi­ness plat­form.

At present, there were 71 on­go­ing ICPs with 265 projects in to­tal. Of this num­ber, seven have been fully com­pleted and reg­is­tered a ICP Credit Value of US$1.3 bil­lion. Ber­nama

Datuk Seri Jo­hari Abdul Ghani

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