New Economic Policy Malaysia

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. 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. 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.

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New Economic Policy

Read more national policy on industry 4 0 industry4wrd.

New economic policy malaysia. The programme aimed to shift affirmative action from being ethnically based to being need based hence becoming more competitive market and investor friendly. In a way we were ahead of the rest of the world even the developed countries in entrusting economic growth to the private sector. The new economic policy nep malay. Malaysia to become an advanced economy by 2020.

Chaptre 1 new economic model for malaysia part i. In a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan. 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 overriding objective of the nep was stated as national unity.

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. This policy was adopted in 1971 for a period of 20 years and it was succeeded by the national development policy ndp in 1991. 1 2016 53 this paper aims to revisit the latter debate while also touching on distribution insofar as it affects growth. Strategic policy directions neac national economic advisory council jd132294 title page indd 1 3 20 10 4 48 43 pm.

The original policy sought to eradicate poverty and achieve economic parity among the country s various ethnic communities. 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. However it was based on an apparent paradox the use of ethnic preference to promote national unity. For more than 40 years the new economic policy and its successor programs have shaped malaysia s socioeconomic development and the allocation of political power.

Revisiting the debate malaysian journal of economic studies ol. Malaysia has put in place the national policy on industry 4 0 industry4wrd that provides a concerted and comprehensi. It is argued that neither of the above arguments are helpful in understanding the nep s impact. Malaysia s new economic policy growth and distribution.