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RMK 3

RMK3 was Malaysia's third development plan from 1976-1980 that aimed to eradicate poverty and restructure society by focusing on the agriculture and industrial sectors. 88% of the RM18.6 billion allocated under RMK3 went to economic development initiatives like improving manufacturing, construction, small industries, and developing urban centers, while 12% went to defense and security. The plan achieved total investment of RM48.4 billion and GDP growth of 7.8% annually during the first 10 years of Malaysia's New Economic Policy from 1971-1980.

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Nurzakiah Kamarudin
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107 views

RMK 3

RMK3 was Malaysia's third development plan from 1976-1980 that aimed to eradicate poverty and restructure society by focusing on the agriculture and industrial sectors. 88% of the RM18.6 billion allocated under RMK3 went to economic development initiatives like improving manufacturing, construction, small industries, and developing urban centers, while 12% went to defense and security. The plan achieved total investment of RM48.4 billion and GDP growth of 7.8% annually during the first 10 years of Malaysia's New Economic Policy from 1971-1980.

Uploaded by

Nurzakiah Kamarudin
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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STRATEGIES

WHAT IS RMK3?
- The amount allocated under the RMT is RM18, 600
Is a second stage in the million and 88% were allocated to economic
implementation of the New development while the remaining 12 percent is
Economic Policy (NEP). allocated to defense spending and national security
OBJECTIVES -Promote the progress of manufacturing and
This plan based on important
economic and social progress in construction, special impulses for the industrial and
-RMK3 has the same manufacturing techniques that use more labor will
recent years, especially during the goals RMK2 of eradicating
Second Malaysia Plan (RMK-2), and be emphasized and expanded.
poverty and restructuring
then based on the experience society.
gained in the process stimulate -Promote the progress of manufacturing and
economic and social development. construction, special impulses for the industrial and
-Focusing on agriculture manufacturing techniques that use more labor will
and industrial sector be emphasized and expanded.

-Small-scale industries is assisted by adding credit


facilities and extension services as well as having a
stronger relationship between small producers who
use a lot of labor to the modern sector through
RESULT
small contracts.
-Under the MP-3 drive, work among
-Government continues to encourage more growth
the Malays in these sectors is
in urban centers across the country to reduce
dynamic and modern economy has
THIRD MALAYSIA congestion in major cities.
improved, although the numbers are
still lacking, particularly in PLAN (RMK 3) 1976 - -Multiply the housing facilities and public transport
management and executive level. 1980 in the slums in major cities
-Overall, the programs also assist in
the development of RMT economy
even lower than the goal.

ACHIEVEMENT
PROGRAM IMPLEMENTATION
-Resulted in total gross investment for the development
of a value of RM48, 449 million -Food and Nutrition Practice Project and community
development in urban areas and rural areas that involve
- For the first 10 years of the NEP (1971-1980), local communities in programs and development projects
Malaysia's economy has grown at a rate of 7.8% per
-Regional development planning has been introduced in
annum.
which the plan believed to bridge the economic gap through
new urban development plan. The show is activated by
- Other sectors growth rate of 8% per annum.
certain bodies such as KEJORA, DARA, and KESEDAR KETENGAH

- Contribution to employment and export earnings were


- A total of 28 cities built under the plan KEJORA, KETENGAH
24.5 percent and 25.2 percent, respectively (Malaysia
and DARA by 1980.
1981)
-Statutory bodies such as the MARA, FELDA, Pernas, UDA
- In agriculture declined to 22.8 percent in 1980 and RISDA continuing development efforts

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