malaysia economic 1

8/2/2019 Malaysia Economic 1

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The Recession of the 80s. A rapidly growing economy is crucial toenable a fairer distribution of wealth.

Projects undertaken by private sector was badly affected as they wereunable to secure domestic or foreign loans

The banking sector faced problems of unpaid loans.

The Bumiputera were relatively inexperienced in business venture Dualisms had been reduced; nevertheless, many farmers were still left

behind in development

Some Bumiputera did not understand the government aspiration underNEP.

Some non-Bumiputera were very reluctant to help Bumiputera ventureinto the business sector

The greatest setback of the NEP is it created a subsidy mentality amongsome Bumiputera


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National Unity:-situation where all Malaysians have

willingly accepted that loyalty & dedication to the

nation above all other objectives. In Malaysian

scenario, national unity is importance for development.

Cannot be achieved if vast sections of the population

remain poor


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Reducing absolute poverty with the intention of

eventually eradicating it, regardless of race

Restructuring Society, i.e., to correct economic

imbalances so as to reduce & eventually eliminate theidentification of race with economic function.


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Just as with NEP, national unity remains the ultimate

goal of NDP.

National Unity is to be achieved through balanced

development


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Growth & Equity

Balanced Development

Social & Economic Inequalities

National integration A Progressive Society

Human Resource Development Science & Technology

Environment & EcologyRefer Page 74-75 from text book


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2. Raising thecapacity for

knowledge andinnovation, andnurturing first

class mentality4. Improvingthe standard

andsustainabilityof the quality

of life

5. Strengthening thecountrys

institutional &implementation

capacity ~ establisha more effective

implementing &monitoringmechanism

3. Addressing persistentsocio-economic

inequalitiesconstructively and

productively

1. Moving theeconomy up

the value chain

5 challenge of VISION

2020


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Increasing productivity, competitiveness & value-addGenerating new sources of wealth & job creation in

technology- and knowledge-intensive sectorsGiving a lead role to the private sector, & increasing

private sector investment by providing an enabling

environment for doing business, enhancing SMEsdevelopment, increasing public-private partnershipsas well as attracting targeted high-quality FDI

Inculcating a culture of high performance &excellence in public & private sectors including

GLCsExpanding market for Malaysian products and

services


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Undertaking comprehensive improvement of the education system,from pre-school to tertiary level, from the aspects of curriculum andteaching to school facilities, with a special focus on raising the standardof schools in rural areas

Enhancing national schools to become the peoples school of choice

Producing universities of international standing and ensuring thattertiary institutions meet the needs of employers

creating more avenues for skills development, training and lifelonglearning for the labour force at all levels and for all ages, including inICT

Providing an environment and innovation system which encouragestop-quality R&D and its commercialisation

Refining and implementing programs which encourage the

development of a strong moral and ethical culture as encapsulated inthe National Integrity Plan

Empowering youth & women to participate in national growth anddevelopment


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Reducing disparities between rural and urban population &among states & regions via sustainable income-generatingavenues & by improving access to basic needs such as housing,education, healthcare, utilities & transportation

Developing less developed regions through regional growthcentres

Bridging the digital divideAddressing inter- and intra-ethnic disparities, particularly by

raising incomes through the enhancement of skills & capabilitiesPromoting equal opportunities in employment towards reducing

disparities in occupation & income as well as enhancingintegration among the ethnic groups

Creating a new generation of competitive Bumiputeraentrepreneurs & enterprises

Reviewing past restructuring policies and programmes toevaluate their effectiveness and impact, and to focus futurepolicies and programmes on merit and need


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Ensuring better protection of the environment and moreefficient usage of natural resources

Enhancing energy sufficiency and efficiency, includingdiversifying sources of energy

Increasing the efficiency of water services deliveryProviding better public transportation to relieve congestion

and reduce fuel usage

Improving access to and quality of healthcare andaffordable housing

Ensuring public safety and securityEnhancing the development and promotion of Malaysian

culture, arts and heritage


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Improving public services delivery by strengtheninggovernance, streamlining administrative processes andmeasuring performance

Improving usage and cost-efficiency of public sector funds

by upholding financial prudence as well as improving themonitoring of implementation

Addressing actual and perceived corruption in both thepublic and private sectors

Enhancing corporate governance and delivery of privatesector services by improving legal and regulatoryframeworks

Strengthening the role of Parliament, media & civil society

malaysia economic 1

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