Moving Forward To A Developed State Status – Economic Perspective

Perak aspires to catch up and join the ranks of developed states. As such, the Institute of Darul Ridzuan (IDR) in collaboration with University Malaya Centre of Regulatory Studies (UMCoRS) undertakes a study to map the overall economic development of the Perak state. The objective of the study is to assess the development of Perak in terms of macroeconomic achievements, sectorial development and the enablers of growth using secondary data. The emphasis is on industrial development due to the fact that evidence has suggested the importance of the manufacturing sectors as a catalyst that has a larger impact in moving the economy at a greater pace. In doing so, the study identifies the sources of growth as well as the strengths and weaknesses of the Perak economy at large. Based on this analysis, broad recommendations are made to the IDR for further deliberations at agency and organisational levels for detailed strategic and action plans.