New Economic Model Malaysia
The objective of the nem is for malaysia to join the ranks of the high income economies but not at all.
New economic model malaysia. The programme aimed to shift affirmative action from being ethnically based to being need based hence becoming more competitive market and investor friendly. Malaysia new economic model 1. 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.
In malaysia one of the key causes of income inequality stems from the rural urban. The targeted income level will be usd 15 000 to 20 000 per capital in year 2020. Oil gas and energy 2.
The shared prosperity model aims to bring a decent standard of living to the people by 2030 across economic class race and geographic location. However the policy has utterly failed to make an impact on income inequality. The new economic model nem to be achieved through an economic transformation programme etp constitutes a key pillar which will propel malaysia to being an advanced nation with inclusiveness and sustainability in line with goals set forth in vision 2020 4.
Part 1 new economic model for malaysia new economic model for malaysia part 1 high income rakyat quality of life inclusiveness sustainability neac national economic advisory council level 5 11 menara usahawan persiaran perdana precinct 2 national economic advisory council neac federal government administrative centre 62652 putrajaya malaysia www neac gov my. Malaysia wants to be a developed and competitive economy whose people enjoy a high quality of life having attained a high level of income which is the result of growth that is both inclusive and sustainable by 2020. The new economic model.
In nem it is an economic model where it promises to bring malaysia escape from the middle income trap and promote to high income level. Inclusiveness and sustaining are the considered factors in making policy. The nem is one of four pillars of the government s blueprint in moving malaysia towards developed nation status.
Palm oil and rubber 3. Malaysian prime minister mahathir mohamad has revealed a new economic model for malaysia to achieve shared prosperity by 2030. The new economic model nem formulated by the national economic advisory council neac was launched by the prime minister on march 30 2010.
Prime minister najib has announced the broad outline of the proposed new economic model nem at the invest malaysia conference. Model nem 4 in 2010 replacing the racially based new economic policy of 1969. Sets forth the transformation journey.
Malaysia s new economic model proposes a number of strategic reforms.
