Eco261 Chapter1

Topics: Economics, Private sector, Public sector Pages: 4 (735 words) Published: July 6, 2013

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The Recession of the 80s. A rapidly growing economy is crucial to enable a fairer distribution of wealth. Projects undertaken by private sector was badly affected as they were unable 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 under NEP. Some non-Bumiputera were very reluctant to help Bumiputera venture into the business sector The greatest setback of the NEP is it created a subsidy mentality among some Bumiputera

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

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 the identification of race with economic function.

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 & Ecology Refer Page 74-75 from text book

5. Strengthening the country’s institutional & implementation capacity ~ establish a more effective implementing & monitoring mechanism

1. Moving the economy up the value chain 5 challenge of VISION 2020 2. Raising the capacity for knowledge and innovation, and nurturing “first class mentality”

4. Improving the standard and sustainability of the quality of life...
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