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?
COMMENT | Will a rising tide lift all boats in Malaysia?
Modified5 May 2021, 2:08 am
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COMMENT | “.In the past, a total income of RM800–RM1,000 could support six people or more. Nowadays, you can barely support three people, and even that is a nightmare. Malaysia has developed, but the rakyat [people] has been left behind because incomes have not increased.”
These are the popular opinions and beliefs among Malaysians who participated in our 2019 joint World Bank-Universiti Malaya qualitative study on living standards in Malaysia. The Kuala Lumpur skyline is emblematic of a modern, rich city, but closer to the ground, a conversation with the Grab car driver tells a different story of how most Malaysians struggle in their daily lives.
“Malaysia needs serious efforts to improve its accountability and transparency” Adib Rawi Yahya/theSun
“ IN the past, a total (household) income of RM800–RM1,000 could support six people or more. Nowadays, you can barely support three people, and even that is a nightmare . Malaysia has developed, but the rakyat have been left behind because incomes have not increased.”
These are the popular opinions and beliefs among Malaysians who participated in our 2019 joint World Bank-University of Malaya qualitative study on living standards in Malaysia.
The Kuala Lumpur skyline is emblematic of a modern, rich city, but closer to the ground, a conversation with the Grab car driver tells a different story of how most Malaysians struggle in their daily lives.
“.In the past, a total income of RM800–RM1,000 could support six people or more. Nowadays, you can barely support three people, and even that is a nightmare. Malaysia has developed, but the rakyat [people] has been left behind because incomes have not increased.”
These are the popular opinions and beliefs among Malaysians who participated in our 2019 joint World Bank-University of Malaya qualitative study on living standards in Malaysia. The Kuala Lumpur skyline is emblematic of a modern, rich city, but closer to the ground, a conversation with the Grab car driver tells a different story of how most Malaysians struggle in their daily lives.