BACKGROUND OF ECONOMIC DEVELOPMENT

8/11/2019 BACKGROUND OF ECONOMIC DEVELOPMENT

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MALAYSIAN ECONOMIC

ECO 261


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The Historical Aspect of The

Expansions of The MalaysianEconomy


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BEFORE INDEPENDENCE


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AFTER INDEPENDENCEFocus more in decreasing thepoverty of Malaya especially inrural areas.


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PLANS BETWEEN 1965-1970

(PRE-NEP)

1 st PLAN2 nd

PLAN3 rd PLAN


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ACHIEVEMENTO greater economic growth rateO more area were opened for

estate and agriculturalO

new processing technique inrubber industry more ruralhouseholds receive facilities


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WEAKNESSES

Unemploymentrate

Programmedincrease numberof Malays fails incommerce and

industry


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CHORONOLOGY TRAGEDY OF

13 MAY 1969POLITICALPROBLEMS

INSULTED THEMALAYS

ON THE EVENINGOF 13 MAY THECHINESE HADATTACKED THEMALAY

MALAY PEOPLEHAVE TAKENACTION INRESPONSE TO THECHINESE


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NEW ECONOMIC POLICY

(NEP) 1971 1990RESTRUCTURING

SOCIETY

POVERTYERADICATION

OBJECTIVE


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ACHIEVEMENTIncrease in

GDP

Decreased

in poverty

Fairerdistributionof income

Increasesemploymentopportunities

Change ofeconomicstructure

Improvequality of

life


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WEAKNESSESDecision of the

80s

Project by privatesector was badly

affected

Banking factorfaces problem of

unpaid loans

Lack of capitaland expertise

amongBumiputera

Dualism

non-Bumiputerareluctant to help

Bumiputera inbusiness sector


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NATIONAL DEVELOPMENTPOLICY (NDP) 1991-2000

AIM : Eradicating poverty andachieving an economicallywell-balanced society


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OBJECTIVE


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STRATEGY

Eradicatingpoverty

irrespective ofrace

Restructuring ofsociety

Balanceddevelopment

Strategy ofVISION

2020


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ACHIEVEMENT

Increaseemployment

Improvequality of

life

Reduction of poverty

Fairerdistribution

income

Bumiputerainvolvement

Structuralchanges

GDP growth


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NATIONAL VISION POLICY (NVP)2001-2010

O Comprised to five year development plans.Implement from eight to ninth Malaysian plancovering a period of ten years.


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OBJECTIVES

To achieve

national unity

Eradicate poverty

over the poorest

Encouraged andincrease National

integration


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VISION 2020

Introduce by TunDr Mahathir

Mohamad


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THE 9 CHALLENGESCreating society that is prosperousand economically competitive withdevelopment other country

Create a culture of a caring and loving

Create a progressive scientific, far-sighted and to create a civilizationbase on science and technology

Creating a society of tolerant, liberaland independent and able to adoptthe custom, culture and religions


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Create a United Malaysia with its ownmodel have a common goal

Produce a fair and prosperous societythrough the distribution of nationalwealth, regardless to race

Creating a society with strong moralethical, uphold religious value andspiritually

Develop democratic society and have amaturity of understanding for the goodand prosperity of the country

Creating a society of independent-minded progressive and peaceful self-confident and ability


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K-ECONOMY

P-ECONOMY

To K-ECONOMY

FOCUS ONINVESTMEN

T ININTANGIBLE

KNOWLEDGE-BASED

ECONOMY


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SOURCESOF P-

ECONOMY

LAND

CAPITAL LABOUR

ENTREPRENEUR


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INFORMATION AND

COMMUNICATION (ICT)


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MULTIMEDIA SUPER

CORRIDOR (MSC)Planned on 1996

by Tun Dr. Mahathir Mohamad.

15km wide and 50km long

from PETRONAS Twin Tower toKLIA.

Taken idea from United States (US)that is Silicon Valley


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OBJECTIVETransform Malaysia into a knowledge

based economy by 2020


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R & D CLUSTER

SMART CARDSMART SCHOOL ELECTRONICGOVERNMENT

WORLDWIDEMANUFACTURING

WEB

BORDERLESSMARKETING

TELEMEDICINE

MSC


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BACKGROUND OF ECONOMIC DEVELOPMENT