ABSTRACT
Since independence in 1957, Malaysia’s industrialization strategy has undergone several broad changes in direction and emphasis. These may be summarized as follows:
1950s-1960s generalized import substitution
1970s export expansion and diversification of the manufac turing sector
1980s import substitution in heavy and resource-based industries
1986 liberalization of investment rules emphasizing exportoriented industrialization, and
1988 promotion of skill-and technology-intensive industries.
