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ENTREPRENEURSHIP DEVELOPMENT IN MALAYSIA - Coggle Diagram
ENTREPRENEURSHIP DEVELOPMENT IN MALAYSIA
NATIONAL ECONOMIC POLICY(
NEP
)
started in 1971 as an ambitious national blueprint for Malaysia's socio-economic development
Government-poverty & racial economic imbalances were the rude causes of the unhappiness (1969)
Rukun Negara
Eradicating poverty by raising income levels & increasing employment opportunities for all Malaysians.
Accelerating the process of restructuring Malaysian society to correct economic imbalances
OBJECTIVES:(THREE IMPORTANT ASPECTS)
**
:
-Restructuring of wealth ownership
-Creation of a Malay Commercial and Industrial Community,later known as Bumiputera Commercial and Industrial Community (BCIC)
-Restructing of racial composition in employment
NATIONAL DEVELOPMENT PLAN(
NDP
)
was introduced in 1991,covering a ten-year period from 1991-2000
new strategic dimensions:
shifting the focus on the poverty eradication strategy to addressing hard-core poverty emphazising employment opportunities & rapid development of an active BCIC.
At the end of the NDP period,the incidence of poverty among Malaysians was futher reduced:
16.5%(1990) -7.5%(1999)
Under the NDP, a significant progress has also been achieved in terms of employment restructing of which the porpotion of Bumiputera in the professional & technical employment categories has increased(60.5%-63.8% in 2000.)
NATIONAL VISION POLICY
(NVP)
was introduced in 2001
The NVP (OPP3, 2001) introduced:
developing Malaysia into a knowledge-based society
-eliminating poverty in remote areas & among aborigines and Bumiputera minorities in Sabah and Sarawak
-increasing the income and raising the quality of life of those in the lowest 30% income category.
-Achieving effective Bumiputera participation as well as equity ownership of at least 30%(2010).
-Increasing the participation of Bumiputeras in the leading sectors of the economy.
NEW ECONOMIC MODEL (
NEM
)
formulated by the country's National Economic Advisory Council(NEAC).
The core principles of NEM: high income, inclusive and sustainability
Its aim:
-to be a developed nation by the year 2020, whose population enjoys a high quality of life with a high level of income resulting from economic growth that is both inclusive and sustainable.
Key elements:
a conducive environment for entrepreneurship development of its people.