1971

The Peak (Malaysia) - - Watches • View -

MALAYSIAN NEW ECO­NOMIC POL­ICY

Malaysia’s New Eco­nomic Pol­icy was in­tro­duced to ‘pur­sue eco­nomic growth ob­jec­tives as a way of cre­at­ing har­mony and unity in a na­tion with many eth­nic and re­li­gious groups’. To this end, spe­cialised agen­cies were cre­ated to en­sure Bu­mi­put­era par­tic­i­pa­tion in the econ­omy, while spe­cial rules and ar­range­ments were also im­ple­mented to see that Bu­mi­put­era are as­sisted and fa­cil­i­tated over a pe­riod. The re­sult of this pol­icy showed a def­i­nite re­struc­tur­ing of the econ­omy along with a re­duc­tion in poverty.

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