Malaysia New Economic Policy
National transport policy 2019 2030 the national transport policy ntp 2019 2030 has been developed to lay the policy thrusts and strategies to enhance our.
Malaysia new economic policy. 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 policy nep malay. Malaysia s economy has been transformed since 1970 from one based primarily on the export of raw materials rubber and tin to one that is among the strongest most diversified and fastest growing in southeast asia.
Malaysia malaysia economy. Malaysia s new economic policy nep was announced in 1970 as part of a package of measures introduced after the political crisis of may 1969. The original policy sought to eradicate poverty and achieve economic parity among the country s various ethnic communities.
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 a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan. 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 is argued that neither of the above arguments are helpful in understanding the nep s impact. Malaysia s new economic policy growth and distribution. The overriding objective of the nep was stated as national unity.
However it was based on an apparent paradox the use of ethnic preference to promote national unity. The aim of this paper is to discuss the issues concerning the new economic policy nep of malaysia. The country is a major producer of rubber and palm oil exports considerable quantities of petroleum and.
Primary production remains important. Revisiting the debate malaysian journal of economic studies ol. Even though the policy has ended nearly 20 years to date the issues of unequal treatments felt by the non bumiputeras and power struggle are still debatable.
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. It sought to eradicate poverty and restructure society to eliminate the identification of race with economic function in order to create the conditions for national unity.
