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.

New economic policy malaysia. The original policy sought to eradicate poverty and achieve economic parity among the country s various ethnic communities. 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. Chaptre 1 new economic model for malaysia part i. 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.

The duration for the implementation of the new economic policy nep was 20 years from 1971 to 1990. 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. 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.

In a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan. Malaysia s new economic policy growth and distribution. The launching of the new economic policy nep in 1971 was a watershed in the malaysian economic policy history. The new economic policy nep malay.

Malaysia to become an advanced economy by 2020. Strategic policy directions neac national economic advisory council jd132294 title page indd 1 3 20 10 4 48 43 pm. Revisiting the debate malaysian journal of economic studies ol. However it was based on an apparent paradox the use of ethnic preference to promote national unity.

It is argued that neither of the above arguments are helpful in understanding the nep s impact. 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. 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.