New Meaning And Measurements For Malaysian Socio-Economic Objectives

Abstract

Sustainable Development, Sustainable Forest Management, Sustainable Economic Development, Socio-Economic Development, Socio-Economic Objectives and Sustainable Development Goals are all interrelated concepts in addressing society’s sustainability issues in economy, social, and environment domains. Socio-Economic Objectives (SEOs) cover a wide area, ranging from sustainable economic developments, human development, society and environment. It is aimed at bringing healthier economy and financial stability for more holistic societal benefits in terms of longevity, health, security, stability, happiness whilst protecting the environment and Planet Earth. They are usually measured against Gross Domestic Product (GDP), life expectancy, literacy, employment, environmental index and so on. The same concept is relatively new for Malaysia. It first appeared in Malaysian Research and Development Classification System (MRDCS) document. Despite its importance, the term lacks meaningful definition, understanding and linkages with current policies. It is unclear and quite confusing as to how Malaysia measures them because the indicators for SEOs as found in MRDCS [A1] are describing them in terms of inputs instead of outputs and outcomes. The newly propose definitions are thus more align with those found abroad. They are results of benchmark and mapping against foreign documents and Malaysia’s current major policies exercises. They are now output and outcomes based, links and moves in the same direction as national policies to fit Malaysian needs and requirements. The experts’ inputs make them more relatable and suitable. This qualitative research uses secondary and primary data.