The Policy Objective and Framework

The Policy Objective And Framework

The Eighth Malaysia Plan, covering the period 2001-2005, is the first

phase in the implementation of the Third Outline Perspective Plan (OPP3), 2001-

2010. The OPP3, which embodies the National Vision Policy (NVP), will chart

the development of the nation in the first decade of the 21st century. The Eighth

Plan will incorporate the strategies, programmes and projects designed to achieve

the NVP objectives of sustainable growth and strengthen economic resilience as

well as create a united and equitable society.

The Seventh Plan was marked by rapid economic growth except in 1998,

when the economy was adversely affected by the economic crisis. The sharp

economic contraction was short-lived as the economy staged a dramatic turnaround

following the implementation of effective monetary and fiscal policies and strategies

by the Government as well as favourable external sector performance. In 2000,

the economy reverted to the growth rate of the pre-crisis level with relative price

stability and low unemployment rate. The poverty level was significantly reduced

and improvements were made in the quality of life.

During the Eighth Plan period, the Malaysian economy will face greater

challenges as a result of increasing globalization and liberalization as well as

the rapid development