Background of NEAC

The National Economic Advisory Council (NEAC) is mandated by the Prime Minister of Malaysia to formulate an economic transformation model for the country. The Council shall provide a fresh, independent perspective in transforming Malaysia from a middle income economy to a high income economy by Year 2020. In the midst of the global economic crisis, the NEAC is entrusted with the responsibility of providing a fresh view on Malaysia’s strategic position in the global economic arena and recommending a transformational strategy for the country. The Council will serve as a tool to bridge the gap between public and private sectors; create a new public-private partnership; intensify regional cooperation; and increase global competitiveness. The NEAC shall also provide a directional and strategic guidance on the implementation of the transformation plan to ensure that the recommendations can be effectively executed at all levels.