Malaysia’s Experience with Poverty Reduction : Lessons for Bangladesh

Abstract

Malaysia is experiencing a prominent and promising economic rise and has set many instances of development of not only social enterprises but also a total development. This paper is penned with a view to approaching some facts and figures concerned to the Development Policy of Malaysia, and then to furnish some policy prescriptions for the development of Bangladesh. This is all through a conceptual paper where the review of relevant literatures has been made. It has been evidenced that, in 37 years, poverty incidence has dropped about 48.4%. Not only that, the incidence has come down at 1.7% in 2012 in peninsular Malaysia when it was 49.3% in 1970. The number of poor households diminished from 1.6 million in 1970 to about 574,000 in 1990 and 228,400 in 2009. The decline in poverty incidence was considerably contributed by high and sustained economic growth during the period, which averaged 6-7% per annum. Some industries, particularly Tourism, have inspired many Malaysians to convert their houses into sales centers. Well framed policy, Political goodwill and stability, Well round trade-offs made many impossible possible in Malaysia.