The NEP also appeared to have been successful in reducing poverty. Indeed, government official figures show that the NEP reduced poverty beyond its target (see Table V.7). Furthermore, the identification of ethnic group with economic function was reduced during the NEP period. Table V.8 below shows that the percentage of Bumiputera in professional and technical occupation increased from 46.7 percent in 1970 to 64.3 percent in 1995. Indeed, the percentage of Bumiputera in all other occupations, except for agricultural occupation, increased. There was also an increase in the number and percentage of registered professionals from the Malay (Bumiputera) ethnic group (see Table V.9). In 1970, only 225 Bumiputera were registered as professionals, which is about 5.0 percent of the total registered. In 1995 however, the number increased significantly to 19344, which was about one third of the total registered. These were a reflection of the significant increase in Malay enrolment in higher learning institutions, as well as in various technical training 17 institutes during the NEP period. The ownership of share capital by the Bumiputera increased from 2.4 percent in 1970 to 20.6 percent in 1995 (see Table V.10). Thus, even though it still fell short of the NEP target of 30.0 percent, the Bumiputera seemed to have made quite a significant progress in terms of ownership and control of capital.6
Thus, during the NEP period, not only was there remarkable economic growth and development of the country, there was also improvement in the economic position of the Malays as well. Poverty eradication in particular was successful under the NEP. Furthermore, there was the emergence of the Malay middle-class, as well as a noticeable Malay business-class, never before imagined.