Requirements are mentioned in the document

Background
At the time of the starting period and the emerging industrial revolution, the Malaysian Government is aspiring in order to take the further development process within their economic as well as the different sectors of the country. In this context in the year of 1991, the Malaysian Government was trying to set a new policy in their performances that can help them in case of making the development process by the year of 2020 (Mahathir, 1991). Therefore, in this context, it can be noted that the aspiration that the Malaysian government has taken within their development activities has served the diversification process in respect with the economic aspects of the country and for this; there is the requirement of the diversification process within the economical aspect of the Malaysian government. This can help them in order to break the growth trap of the other developing countries with easiest aswell as with flexible ways (Siew-Yan and Mat Zin, 2006).
Furthermore, in this context it also can be noted that in respect of the aspiration process, the Malaysian Government has taken the envisioned strategy within their development process in order to develop the economic aspect of the country through the low-cost advantages of the manufacturing department, but in reality it seemed that the low-cost strategy was not proven as the effective one (MOSTE, 1990). In this context, the Abdulai (2004) has argued that the other developing countries where also trying to develop their economy by applying the same strategy through the involvement of the foreign investment process within the aspect of the different sectors that are related with their country. Through the overview of the aspiration process of the Malaysian government, it was clear that there were the requirements of the diversification process within the economical aspect of Government in case of achieving the status of the developed country (Abdulai, 2004).
In terms of identifying the pathway through which the economic structure of the nation could be developed, it can be said that the Malaysian government has realised that industrialisation should be emphasised upon as it would not only serve as the backbone of the economic growth of the country, but also would foster the implication of technologies within the nation (MOSTE, 1990, Siew-Yan and Mat Zin, 2006) Thus, the planning that the Malaysian government has taken within their development process was noted sadly the planning fallacy by someone because the Malaysian government has used the planning by taking the inspiration from the various developing countries such as Japan and South Korea (Jomo, 1994). In this context, Vogel (1919) suggested that the development policy that Japan and South Korea were taking within the development process could be experienced by the ability of those countries. Through the discussion, it can be noted that it was the toughest job for Malaysian in order to repeat the success story of this developing countries through the industrialization process and that was suggested by Ali (1992). In spite of the presence of different and critical situations, Ali (1992) agreed that the decision of the Malaysian government to emphasise upon industrialisation to bring about development within the nation was suitable as the policies would raise the chances for success. However, it would involve both more time and monetary investments. Moreover, it can be noted that the high technology sectors are the fastest growing sectors and also can foster the economic development process of any country with different ways such as promoting innovation, technological competitiveness and also by creating the high paid job opportunities (Walsh et al. 1995).
On the basis of the prospects of the technology sector within the wide perspectives, it can be noted that the technological sectors should foster the process of creating knowledge within the economic aspects and vice versa (Fontes and Coombs, 2001). In this context, it can be noted that the knowledge creation process, as well as the development process of the technology sectors of many countries, are noted as the prescribed formula in case of the development process of the economic aspect of that country (Ozcelik and Taymaz, 2008). In the context of the development process of the Malaysian economy, the technological factors are noted as the development process of a knowledge-based economy (Shapira et al. 2006). Furthermore, it seems that the development of the knowledge was working as the intensive effort in case of the technological development process of Malaysia as the process of knowing the technological factors also can be developed (Malaysia, 2001). However, in this context, it also can be noted that the development of the knowledge process could encourage the development process of the technology sector that were related with the economic development of Malaysia and also could foster the upliftment of the technologies within the industrial competitive sectors (Ali, 1992).
The knowledge and technological development process can serve the process, through which the transfer and improvement process of foreign technology could be done in aflexible way and that was concluded by Mani (2002). Therefore, the technological knowledge process helped the South Korean companies in case of coming to the forefront of the manufacturing of electric and electronic products. Ali (1992), argued that the Malaysian government should start relying on the local technological development instead of depending on foreign technological developments as relying on the local technologies would prompt the development and growth of the local economy.
The assertiveness of the Malaysian government is influenced by the countries that are associated with the development. The association...