The clarity of policies is vital to attract investors, says MY's PM Anwar

Malaysian Prime Minister Anwar Ibrahim has reportedly said that the clarity of policies is imperative in building confidence in foreign and domestic investors. For instance, policies such as the Madani Economy and the New Industrial Master Plan 2030, to name a few, are examples of the government moving away from the traditional manner of reviewing policies.

Bernama reported that PM Anwar sees the Malaysian government making shifts and adjustments in accordance with the challenges the country is currently facing. He said so at the Khazanah Megatrends Forum held in Malaysia yesterday.

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PM Anwar went on to add that he would be more optimistic about the outcome of Malaysia’s future if the government manages the economy with clarity of policies and plans ahead, in order to achieve results while dealing with problems with tenacity.

He provided the caveat that a lack of clarity, which has inevitably led to a trust deficit, was previously to benefit elites at the expense of the majority of the population. This, he reportedly added, has led to abuse of power and corrupt practices.

To overcome the fundamental flaws in the system, PM Anwar insisted that there must be preparedness to shift and formulate new policies.

Regarding changes made to the dialogue among the Malaysian cabinet, PM Anwar said that it is acting on issues of ease of business. To make the legal process of business creation more iron-clad and to make investors feel more reassured, he added that he has asked for thorough reports that showed the time they took and their final approval for the next cabinet meeting happening on 4 October.

On the investment front, Malaysia recently secured over RM37.4 billion in investment commitments in the digital technology sector, according to Fahmi Fadzil, the country’s communications and digital minister.

Speaking at the Malaysia Digital Expo (MDX), Fadzil reportedly said that this inflow of investments promises the creation of at least 15,895 high-value jobs. This, he added, is a reflection of foreign investors’ confidence in Malaysian Digital, which is the national strategic initiative driving the digital economy.

According to The Edge Malaysia, Minister Fahmi referenced the memoranda of understanding that Malaysian Prime Minister Anwar Ibrahim had signed that was worth nearly RM20 billion. He stated that the signing solidifies Malaysia’s position as an attractive destination for investments. 

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