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Secondary Sector
Secondary sector in malaysian. This chapter explain the roles and phases of industrial sector in Malaysian economy. Then it discuss the abjectives, strategies and strategies thrust of Malaysian industrial master plan IMP.
Edited at 2021-01-22 05:35:47- PRIMARY SECTOR
The Primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, and mining
- TERTIARY SECTOR
The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work.
- TOPIC 1 MALAYSIAN ECONOMY
Master 2 concept : Economic growth
Secondary Sector
- PRIMARY SECTOR
The Primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, and mining
- TERTIARY SECTOR
The tertiary sector covers a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work.
- TOPIC 1 MALAYSIAN ECONOMY
Master 2 concept : Economic growth
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- Outline
SECONDARY SECTOR
Phases of industrial development
Import Subsitution Strategy (1957-1970)
Export Orientated Industrialization Strategy (Post 1970s)
Heavy Industry-based Import Substitution Strategy (Post 1980s)
High Technology Industries (Post 1990s)
Industrial Master Plans
Three Industrial Master Plan
Industrial Master Plan (IMP1) (1986-1995)
Industrial Master Plan (IMP2) (1996-2005)
Industrial Master Plan (IMP3) (2006-2020)
Initiated to provide a medium & long term policy framewrok to spearhead the development of more divercitied & intergrated manufacturing sector
First Industrial Master Plan (IMP1) (1986-1995)
Objective
To accelerate the growth of manufacturing sector
To promote opportunities for the maximum
To build up the foundation for leap-frogging
Strategies
Restructure industrial incentives
Upgrade import subsitution industries
Widen industrial activities in less develop regions
Invigorate R&D activities in both public & private establishments
Encourage the growth of heavy industries as new feeder industries
Diversity export & further encourage import substitution
Encourage the use of locall-made products
Diversity the export market
Encourage growth of SMEs
Second Industrial Master Plan (IMP2) (1996-2005
Objective
Transfrom manufacturing sector into resilient, broad base & international competitive
Strategies
Manufacturing Value Chain
Cluster-based industrial development
Key strategies thrusts
Encourage global orientation
Enhance competitive of the industrial sector
Improve requisite economic foundation
Nurture Malaysian-owned manufacturing companies
Adopt information intensive & knowledge driven process
Third Industrial Master Plan (IMP3) (2006-2020)
Transforming & innovating the manufacturing & services sectors in an intergrated manner towards attaining developed nation status inder Vision 2020
Development initiative
Echancing Malaysia as a major trading nation
Generating investment in targeting growth areas
Intergrating companies into global network
Promotion of growth areas
Sustaining the manufacturing sector contribution to economic growth
Positioning the services as a major source of growth
Enhancing the enabling enviroment
Facilitating the development & application of knowledge
Developing innovative & creative human capital
Strenghening the role of private sector institutions
Creating a more business operating enviroment
Development Of Heavy Industries In Malaysia
Roles
Greater utilization of natural resouces
Enhancement of technology capability
Developmet of inter industry linkages
Employment creation
Challenges
Lack linkages between industries
High production cost
Small domestic market
Shortage of investment
Shortages of skilled labor
Development Of SMEs
Roles
Creating employment opportunities
Strenghtening industrial linkages
Contribute to development & modernization
Training ground for entrepreneurs
Challenges
Limited acces to finance & capital
Lack skilled workers
Limited capability & capacity
Poor intergration & linkages
Foreign Direct Investment (FDI)
Companies that build factories in overseas
Hold at least 10% of the total equity in a resident company
Must afford the parent enterprise control over its foreign affiliate
Challenges In Industrial Sector
Large industrial technology gap
Lack of extensive domestic R&D
Weak symbiotic relationship (heavy industries & SMEs)
Narrow manufacturing base
Inadequate use of natural resources
High cost of production
Dependence on foreign labor
Intense competition from low cost producers
Roles of industrial sector
Increase GDP, employment & exports
Modernization of economy, widening industrial & economy bases
Plays an important role in downstream activities
Creates linkages between heavy industries & SMEs
Transferring technology through foreign & domestic investment
Creates many opportunities & linkages with other sectors
Transform from global consumer to global manufacture
Create cross-border callaboration