Malaysia’s Strategy for Economic Growth with Social Equity

This essay examines the public policies Malaysia has been implementing since 1969, policies that have succeeded in boosting percapita income, contributed to the country’s insertion into the world economy, helped reduce poverty and encouraged a fairer distribution of wealth. The authors begin by looking at the critical situation Malaysia found itself in at the end of the seventies. This is followed by a detailed analysis of the factors that have contributed to the country’s development and the medium-term strategy (2020 Vision) implemented by the Malaysian government with a view to increasing its competitiveness. The authors conclude that the main factors behind economic growth with social equity in Malaysia have been the continuity of objectives by its various governments over the last three decades, the strengthening of competitive capacities by means of a policy of diversification, and a successful balance between internal and external dynamics that translates into real economic benefits.