National Economic Policy Malaysia

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.

National 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. Our nation needs stimulus to get the economy moving again but this must be carefully planned. The economy of malaysia is the sixth largest in southeast asia according to the international monetary fund 2020 it is also the 39th largest economy in the world. Malaysia has a newly industrialized market economy which is relatively open and state oriented.

Pejabat perdana menteri blok utama bangunan perdana putra pusat pentadbiran kerajaan persekutuan 62502 putrajaya malaysia tel. Economic policy responses unlike the global financial crisis in 2008 and the asian financial crisis in 1997 malaysia s covid 19 crisis is a public health crisis first and an economic crisis second. Malaysia to become an advanced economy by 2020. 603 8888 8000 faks.

The new economic policy nep malay. In a way we were ahead of the rest of the world even the developed countries in entrusting economic growth to the private sector. 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 malaysian economy is highly robust and diversified with the export value of high tech products in 2015 standing at us 57 258.

However malaysia must also show that we have clarity in the policies the government intends to implement and that the government is able to take a proactive role in addressing the national economy. The overriding objective of the nep was stated as national unity. 603 8888 3444 terms condition. 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.

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. In order to push the nation s digital economy to new heights the malaysian government has drafted a number of policies and roadmaps to strengthen a business environment that provides companies with opportunities for continued growth.