Malaysian Government Role in Economic Development The Government of Malaysia has always been pro-active in leading the nation

s econom ic development. The nation has successfully developed from a commodity-based eco nomy to manufacturing-based one. Today, the Government seeks to leap into the kn owledge-based economy. The Government has encouraged Foreign Direct Investment ( FDI) and the US is one of the largest sources of new investment in Malaysia. In 1971, Malaysian Government launched New Economic Policy (NEP), which has been considered as a defining moment in the country s economic history. The policy was a dopted: to reduce absolute poverty through raising income levels and increasing opportun ities for employment and to restructure society to correct economic imbalances so as to eliminate the ide ntification of economic function with ethnicity. After the expiry of NEP in 1991, the government launched National Development Po licy (NDP), which was built on NEP. The NDP had many new dimensions. The new dim ensions shifted focus of anti-poverty campaign towards elimination of extreme po verty and reducing relative poverty, stressing on employment creation, greater d ependence on the private sector effecting in the restructuring objective, and im proving human resource development. The 1990s began with the introduction of Vision 2020, which visualised Malaysia to become fully developed nation by the year 2020. The National Economic Action Council (NEAC) was set up in 1998 to make tangible recommendations to the govern ment to revive the economy. After evaluating Malaysia s situation, the NEAC prepared a comprehensive National Economic Recovery Plan (NERP). The NERP was launched in 1998 with six goals. They were to steady the ringgit, r estore market confidence, maintain financial market stability, strengthen econom ic fundamentals, continue with the equity and socio-economic agenda, and revive adversely affected sectors. In addition, new procedures were introduced to deal with definite problems while some of the existing policies were modified to enha nce economic management. In 2001, the government launched a new plan, the National Vision Policy (NVP), t o guide development over the period from 2001 to 2010. The NVP aims at education for budget increases and seeks to progress the economy towards higher-technolog y production. Last Updated on: 17-11-2009

(CIDB) VISION CIDB's role as a regulatory body and custodian of the Malaysian Construction Ind ustry is strategically important. As such, we have established a strong Vision... By year 2015, the Malaysian Cons truction Industry shall be among the best in the world. To fulfill our Vision, 3 key areas have been identified: * Setting the stage for Industry Players to embrace new technology.

* Undertaking development and accreditation programs designed to improve constru ction quality delivery as well as competitive edge. * Functioning as a gateway for Construction Industry Players to get involved in the international construction marketplace, with the aim of enabling them to ear n leadership positions in overseas ventures and maintaining an open exchange of information with construction leaders worldwide. To achieve our Vision, the 3 key areas have been translated to involve 4 main in itiatives: * The development of quality services in Construction as a basis for maintaining and improving competitive edge. * The focus on Construction Technology Development along the lines of new opport unities for innovation and cost effectiveness. * A 'Going Global' initiative that serves to promote and encourage the export of services and products. * Continuing efforts in terms of reviewing and revising existing rules and polic ies with the aim of facilitating the development of the Industry. In the long run, CIDB's endeavours to assist the Construction Sector to attain t he level of a captive global player, in the course of undertaking efforts to pre pare Industry Players to excel in their project delivery. FUNCTION To achieve this ambitious objective, CIDB's development framework is derived fro m the 11 functions outlined in the ACT 520 [Part II, Section 4] * to promote and stimulate the development, improvement and expansion ofthe cons truction industry * to advise and make recommendations to the Federal Government and the State Gov ernment on matters affecting or connected with the construction industry * to promote, stimulate and undertake research into any matter relating to the c onstruction industry * to promote, stimulate and assist in the export of service relating to the cons truction industry * to provide consultancy and advisory services with respect to the construction industry * to promote quality assurance in the construction industry * to encourage the standardisation and improvement of construction techniques an d materials * to initiate and maintain a construction industry information system * to provide, promote, review and coordinate training programmes organised by pu blic and private construction training centres for skilled construction workers and construction site supervisors * to accredit and register contractors and to cancel, suspend or reinstate the r egistration of any registered contractor * to accredit and certify skilled construction workers and construction site sup ervisors.

While consumers and producers make most decisions that mold the economy, governm ent activities have a powerful effect on the U.S. economy in at least four areas . Stabilization and Growth. Perhaps most importantly, the federal government guide s the overall pace of economic activity, attempting to maintain steady growth, h igh levels of employment, and price stability. By adjusting spending and tax rat es (fiscal policy) or managing the money supply and controlling the use of credi t (monetary policy), it can slow down or speed up the economy's rate of growth - in the process, affecting the level of prices and employment.