Malaysia’s economic development strategies have evolved significantly since independence, focusing on reducing poverty, enhancing education, and integrating technology to foster sustainable growth. Despite substantial progress, challenges persist in achieving inclusive development across rural and urban sectors. This study examines the effectiveness of Malaysia’s New Economic Model (NEM) in addressing poverty and unemployment through technological and educational advancements. Employing a qualitative approach, it reviews literature on technology’s impact on economic growth, poverty alleviation, and the role of tertiary education in national development. Analysis reveals that while NEM initiatives have attracted foreign investment and improved infrastructure, gaps remain in educational access and technological self-reliance. The findings underscore the need for targeted policies that enhance educational outcomes, promote inclusive technology adoption, and address structural inequalities to achieve sustainable economic development. Recommendations include bolstering vocational training, enhancing rural infrastructure, and fostering public-private partnerships in technology innovation to ensure equitable economic progress.