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Malaysia is at a critical juncture in its development. It has made huge strides in socioeconomic development since the 1970s, transforming itself from an underdeveloped country reliant on natural resources into a middle-income country with a vibrant manufacturing sector. While Malaysia has made strong gains, the current situation poses some challenges that have led some to suggest that Malaysia is in a middle-income trap.
The government has been proactive in taking on these challenges. Specifically, it has issued a comprehensive policy framework through the Economic Transformation Programme (ETP) and the Tenth Malaysia Plan (TMP), 2011-2015, in recognition that a new economic model is required. In addition, the Asian Development Bank (ADB) has formed an interim country partnership strategy (CPS) with Malaysia to support the government in the implementation of the ETP and the TMP.
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