Preparing the Malaysian private sector to compete at the highest level
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As it prepares for high-income nationhood, enhancing productivity and innovation has become key to Malaysia’s economic future
With more than a year into the pandemic, there is still some good news: Malaysia’s goal of achieving high income nation status while delayed, can still be achieved. However, with rising debt burdens, the available fiscal space is scarce over the medium term, and the post-pandemic recovery will need to be more heavily driven by the private sector. This situation puts the private sector under the spotlight. Empowering it the right way will help it compete better in both domestic and international markets. And a more competitive private sector will help create jobs, increase incomes, and reduce poverty. So, what will it take to make Malaysia’s private sector more competitive and an engine of growth as the country transitions towards high-income nation status?