Essential Economic Reforms to Navigate Global Challenges, Says PM Anwar

By Loshinniy Nair S. Baskaran,

4^th OCTOBER: Prime Minister Anwar Ibrahim emphasized the critical need for economic reforms to strengthen Malaysia’s resilience against global uncertainties. Speaking at the launch of the Economic Reforms Council’s report, he highlighted that the country faces numerous external challenges, including inflation, supply chain disruptions, and geopolitical tensions.

Anwar pointed out that Malaysia’s economic growth, while promising, is vulnerable to international shocks. He called for a comprehensive strategy that prioritizes sustainable development, innovation, and investment in human capital. The Prime Minister underscored the importance of diversifying the economy to reduce reliance on traditional sectors, advocating for a shift towards high-value industries.

The report from the Economic Reforms Council outlines actionable recommendations aimed at enhancing productivity and competitiveness. Anwar reiterated the government’s commitment to implementing these reforms, which include improving regulatory frameworks, fostering entrepreneurship, and promoting digital transformation.

Furthermore, he stressed the necessity of social inclusivity in economic policies to ensure that all Malaysians benefit from growth. The Prime Minister’s remarks reflect a proactive approach to securing a stable economic future amidst a rapidly changing global landscape. By focusing on these reforms, Anwar aims to position Malaysia as a resilient economy capable of weathering future storms, as stated in The Star.