New Economic Policy Malaysia 2020
Factors influence malaysia economics.
New economic policy malaysia 2020. This report presents an overall framework of the nem for transforming malaysia from a middle income to an advanced nation by 2020. 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 new economic policy nep malay.
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. By the national economic advisory council neac on the new economic model nem. 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 11th malaysia plan 11mp which is the final one in the lead up to the 2020 goal includes updated forecasts for the country s economy and its finances as well as new infrastructure projects.
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. 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. Page 1 of 50 about 500 essays. Malaysians are generally friendly and when asked for directions will obligingly point you to your destination.
This policy was adopted in 1971 for a period of 20 years and it was succeeded by the national development policy ndp in 1991. 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 programme aimed to shift affirmative action from being ethnically based to being need based hence becoming more competitive market and investor friendly. Malaysian new economic policy.