New Economic Policy Malaysia 2020

In a way we were ahead of the rest of the world even the developed countries in entrusting economic growth to the private sector.

New economic policy malaysia 2020. 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. This policy was adopted in 1971 for a period of 20 years and it was succeeded by the national development policy ndp in 1991. While malaysia still hopes to become a fully developed country in the next two decades it is important that the government does not abandon the pursuit of becoming a democratically mature and ethnically united country. Some key public sector economic policies for the forseeable future since the early 1980s we have stressed that this country will rely on the private sector as the primary engine of economic growth.

It was developed following a series of meetings of the neac beginning in 2009 and consultations with stakeholders. Malaysia to become an advanced economy by 2020. The ultimate goal of the nep was national unity. By 2020 malaysia will fall short of achieving the primary economic political and social goals of wawasan 2020.

This post will attempt to compare existing economic development policies namely the new economic policy which attempted to separated economic status with ethnic identity to the economic transformation programme which seeks to address long term structural problems caused by the non delivery of projects by the government. The programme aimed to shift affirmative action from being ethnically based to being need based hence becoming more competitive market and investor friendly. Development thrusts of the malaysia s development policies the new economic policy nep 1970 1990 and the affirmative action the nep was a social engineering affirmative action designed to restore national unity through a more inclusive and equitable development framework. This report presents an overall framework of the nem for transforming malaysia from a middle income to an advanced nation by 2020.

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. The new economic model nem 2011 2020 was an economic plan in malaysia unveiled on 30 march 2010 by malaysian prime minister najib razak which was intended to more than double the per capita income in malaysia by 2020. The new economic policy nep malay. Posts about new economic policy written by clement.