Malaysia's diverse community contributed to economic transformation - Sultan Nazrin Shah

KUALA LUMPUR: Malaysia's remarkable economic and social transformation is due to the outstanding contributions of the country's diverse community, says Sultan Nazrin Shah of Perak.
Launching his book,'Charting the Economy', he said this observation was among the important lessons he gained from his study of the country's economic history while pursuing his doctorate at Harvard University.
"The immense prosperity and development that have been brought by their sacrifices, innovations and talents should help inspire current and future generations of Malaysians and can serve as an exemplar for other multicultural societies," he added.
Sharing his experience in the 234-page book, Sultan Nazrin said his fascination with Malaysia's economic history began almost a generation ago when he was pursuing his PhD, during which time he committed to undertake research that would deepen his knowledge of the country's economic transformation in the 20th century.
"After graduating from Harvard, I started a research project to continue with my investigations. This book is a narrative of the findings," he said.
In his introductory remarks in the book, one of Sultan Nazrin's PhD supervisors, Prof Dwight H. Perkins said the economic history of Malaysia since independence was a story of using resource-based economy to accomplish major improvements in the lives of Malaysians.
"...and at the same time, convert the economy from resource-based to modern manufacturing and services-based that would eventually allow Malaysia to join the ranks of the high income countries," he said.
Drawing on archival primary source documents, the book presents new estimates of the country's gross domestic product in the first four decades of the 20th century.
It was a period during which the commodity-dependent economy was under British colonial control and it contrasted with economic growth and development in contemporary Malaysia.
The book, published by Oxford University Press is available at MPH bookstores at RM99.90 per copy. — Bernama