Countries such as South Korea and Singapore have already made that leap. Without radical reshaping of its economy and a move away from low-value added electronics exports and labour intensive industries, Malaysia risks losing ground to the likes of China and Vietnam and not making it to developed nation status. Reforms are planned particularly in the service sector in order to attract foreign direct investment and domestic financing sources. Re-energising the private sector is a key element in the Economic Transformation Programme (NEM Concluding Part, 2010).