The Second Malaysia Plan (In Malay language: Rancangan Malaysia Kedua) was an economic development plan introduced by the government of Malaysia with the goal of implementing the Malaysian New Economic Policy (NEP). It lasted from 1971 to 1975 and aimed to "restructure" the society of Malaysia and reduce Malaysian Chinese and foreign dominance in the economy of Malaysia so as to improve the economic position of the Malays. It was the successor to the First Malaysia Plan, which was also intended to specifically tackle the problem of poverty among the Malays. However, the First Malaysia Plan had limited success, which may have been a factor in the May 13 Incident in 1969 when race riots broke out in Kuala Lumpur. The Second Malaysia Plan was regarded by some as excessive in its zeal to increase Malay participation in the economy, and the government accordingly scaled back the emphasis on restructuring the economy when the plan ended.
Other articles related to "second malaysia plan":
... First Malaysia Plan Malaysian New Economic Policy. ...
Famous quotes containing the word plan:
“Solomons ... excess became an insult upon the privileges of mankind; for by the same plan of luxury, which made it necessary to have forty thousand stalls of horses,he had unfortunately miscalculated his other wants, and so had seven hundred wives....
—Laurence Sterne (17131768)