Malaysia New Economic Policy

Malaysia s new economic policy growth and distribution.

Malaysia new economic policy. 1 2016 53 this paper aims to revisit the latter debate while also touching on distribution insofar as it affects growth. The new economic policy started out with the best intentions but over the years it has become a polarising policy associated with discrimination on one hand and entitlement as to rights on the other in actual fact the nep in its original concept and purpose is neither of the two we all know the origins of the original new economic policy that was introduced by the late tun abdul razak. Malaysia s new economic policy nep was announced in 1970 as part of a package of measures introduced after the political crisis of may 1969. The launching of the new economic policy nep in 1971 was a watershed in the malaysian economic policy history.

In a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan. The programme aimed to shift affirmative action from being ethnically based to being need based hence becoming more competitive market and investor friendly. Dasar ekonomi baru deb was a social re engineering and affirmative action program formulated by the national operations council noc in the aftermath of 13 may incident in malaysia. Revisiting the debate malaysian journal of economic studies ol.

The duration for the implementation of the new economic policy nep was 20 years from 1971 to 1990. It was implemented in 1971 in the aftermath of the 1969 racial riots and the period set for the implementation of nep was 1971 1990. National transport policy 2019 2030 the national transport policy ntp 2019 2030 has been developed to lay the policy thrusts and strategies to enhance our. The new economic policy nep malay.

The eleventh economic plan for malaysia identifies six strategic thrusts key points along which the economic policies will focus to ensure malaysia reaches its goal of becoming a high income country by 2020 the key target for the whole plan is for malaysia to reach the advanced economy status that is to say a national income per capita. Chaptre 1 new economic model for malaysia part i. Strategic policy directions neac national economic advisory council jd132294 title page indd 1 3 20 10 4 48 43 pm. This policy was adopted in 1971 for a period of 20 years and it was succeeded by the national development policy ndp in 1991.

It sought to eradicate poverty and restructure society to eliminate the identification of race with economic function in order to create the conditions for national unity. The overriding objective of the nep was stated as national unity. It is argued that neither of the above arguments are helpful in understanding the nep s impact.