pART one particular NEW FINANCIAL MODEL PERTAINING TO MALAYSIA
NEW ECONOMIC MODEL FOR MALAYSIA pART 1
Rakyat Standard of living
National Economic Admonitory Council Level 5 & 11, Menara Usahawan Persiaran Perdana, Precinct 2
Government Administrative Hub 62652 PUTRAJAYA MALAYSIA
NATIONWIDE ECONOMIC ADMONITORY COUNCIL
NATIONAL ECONOMICAL ADVISORY AUTHORITIES
FRESH ECONOMIC VERSION
F To R M A M AY H I A
Component I: Proper Policy Guidelines
Copyrights Set aside
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This kind of report may be the first of two documents by the National Financial Advisory Council (NEAC) within the New Economical Model (NEM). This statement presents an overall framework in the NEM intended for transforming Malaysia from a middle income to an advanced nation by 2020. It was developed following a series of meetings of the NEAC beginning in 2009 and consultations with stakeholders in the business sector, government, time unions, agrupacion and others. It really is intended that this report is going to serve as the basis for creating the policy measures plus the implementation program in the final document under. The impartial work from the NEAC is a crucial component of the government's 1Malaysia concept and programme. The NEM will certainly define the Strategic Change Initiatives (SRIs) that will launch Malaysia towards the goals first set forth in Vision 2020. In the Price range 2010 Conversation in August 2009, the top Minister and Minister of Finance, YAB Dato' Sri Mohd. Najib Tun Abdul Razak, emphasised high-skilled man capital, effective public services, a reinvigorated private sector and similar opportunity for most Malaysians. The NEAC sees these designs in the NEM. The rest of the record is organised as follows. Section 1: Why Do We Need the NEM and What Are Its Goals? briefly gives the desired goals and attributes of the NEM. It also variations on the permitting actions plus the bold insurance plan measures actual the Strategic Reform pursuits (SRIs) with the Economic Modification Programme (ETP) to deliver the goals of the NEM. Chapter 2: Wherever Are All of us? sets on M a l a y t i a 's c u l r at the n big t p to s we t my spouse and i o and a n d big t h e challenges all of us face in the years ahead. In the wake of the Hard anodized cookware financial crisis the nation has posted mediocre and subdued development recovery, primarily attributed to low and still private expense. While the export sector is an important growth new driver, outputs are mainly low useful, reflecting deficiencies in innovation, a low-skilled labour force, and conditions that constrain business development. Goods, which have taken advantage of from price increases over the last half-decade, form the bulk of the exports.
Phase 3: What Is Happening Around Us? focusses around the much more demanding environment within which Malaysia must deal with its affairs, in particular their economic administration. The global surroundings is changing with leading countries showing a new pair of distinguishing characteristics; governments answering more rapidly to
economic pressures; environmental issues driving policy considerations and competitive advantages; income and productivity being powered by...