Impact Of New Economic Policy In Malaysia

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.

Impact of new economic policy in malaysia. This policy was adopted in 1971 for a period of 20 years and it was succeeded by the national development policy ndp in 1991. For details see sivalingam g. Malaysia s new economic policy nep was first announced in 1970 as the principal policy response to the post election race riots of may 1969 which also resulted in a significant regime change. Malaysian studies amu 2685 essay title.

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. The original policy sought to eradicate poverty and achieve economic parity among the country s various ethnic communities. 28th april 2016 word count. The impact of the new economic policy in malaysia assessment task 1 due date.

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. However it was based on an apparent paradox the use of ethnic preference to promote national unity. 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. Justin o oim onash u niversity 2.

The aim of this paper is to discuss the issues concerning the new economic policy nep of malaysia. Regardless the outcry it is undeniable that the nep has great significant on putting the economic and social balance between ethnics. The new economic policy nep malay. The overriding objective of the nep was stated as national unity.

The impact of the new economic policy in malaysia 1. 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. 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. In a simple definition the new economic policy is malaysia s socioeconomic affirmative action plan.

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