PM: M'sia must be adaptive in policies to become high-income economy

Prime Minister Anwar Ibrahim said Malaysia must adapt its policies, have strong institutions, and maintain a clear vision of its chosen direction to achieve its goal of becoming a high-income economy.
Anwar said the Madani Economic Framework reflects the nation's high-income economy vision and articulates a dual commitment.
'First, industrial policies should be...

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Malay Mail

36 minutes ago

• Malay Mail

Anwar honours outgoing IGP and RMAF chief in farewell meetings

KUALA LUMPUR, June 21 — Prime Minister Datuk Seri Anwar Ibrahim expressed his appreciation to former Inspector-General of Police (IGP) Tan Sri Razarudin Husain for his service, contributions, and leadership during his tenure heading the Royal Malaysia Police (PDRM). In a Facebook post today, Anwar stated that he conveyed this during a farewell courtesy call from Razarudin this morning. 'I pray that Tan Sri Razarudin continues to be blessed with good health and the strength to continue contributing to the nation in any capacity. Thank you for your very meaningful service to the people and the country,' he said. Razarudin, who joined PDRM in 1982, was appointed as the 14th IGP for a two-year contract after his retirement, effective June 23, 2023, and will conclude his service this Sunday. Throughout his career, Razarudin held several important positions, including Head of Penang Criminal Investigation Department in 2016, Deputy Commissioner of Sabah Police (2016), Deputy Chief Police Officer of Perak (2018), Chief Police Officer of Perak (2019), Director of Bukit Aman Narcotics Criminal Investigation Department (2020), and Deputy Inspector-General of Police (2021). Earlier, Bukit Aman Special Branch Director Datuk Seri Mohd Khalid Ismail was appointed as the 15th IGP, replacing Razarudin, effective today. Meanwhile, in a separate post, Anwar also stated that he had received a farewell courtesy call from the Chief of the Royal Malaysian Air Force (RMAF), General Tan Sri Mohd Asghar Khan Goriman Khan, who will retire on June 26. 'My highest appreciation for all his sacrifices, services, and excellent leadership in the Malaysian Armed Forces (ATM). I pray that Tan Sri Mohd Asghar Khan will be blessed with prolonged good health and that the spirit of patriotism he displayed throughout his service will inspire the next generation to continue serving and defending our beloved homeland,' he said. Mohd Asghar Khan, who was appointed as the RMAF Chief on March 7, 2022, began his career in the Malaysian Armed Forces on July 18, 1983, as a cadet officer at the Royal Military College and started his career as an RMAF fighter pilot in 1985. Known by his call sign 'Gunjiz,' he also made history by becoming the first RMAF Chief to fly the Su-30MKM 'Toruk Makto' aircraft in an airshow at the recent Langkawi International Maritime and Aerospace Exhibition 2025 (LIMA '25). — Bernama

New Straits Times

2 hours ago

• New Straits Times

Leaping ahead to lead with conviction

Malaysia's remarkable 11-spot jump in the IMD World Competitiveness Ranking (WCR) —from 34th position in 2024 to 23rd in 2025—is more than just a statistical victory. It is a powerful testament to the effective implementation of the MADANI Government's economic reforms, including fiscal, industrial and social. For context, the WCR assesses the ability of economies to foster an environment that supports business competitiveness, productivity and economic growth, across four main categories: economic performance, government efficiency, business efficiency and infrastructure. Malaysia's marked improvement in three out of four areas, especially the leap to fourth among 69 economies in economic performance, is no small feat. MITI is especially pleased that our industrial reforms implemented under the New Industrial Masterplan 2030 have contributed to the jump in the rankings in terms of sub-factors such as domestic economy (+20); international trade (+11); international investment (+2); employment (+8); institutional framework (+11); business legislation (+4); productivity and efficiency (+19) and the labour market (+11). While there is still much room for improvement, this dramatic increase in the rankings is a strong validation that Malaysia's economy is on the right track and we are steadily regaining our competitive edge on the global stage. This surge in competitiveness is not accidental. It is the result of intentional, coordinated, and at times, politically difficult reforms. It reflects a responsible governance approach under Datuk Seri Anwar Ibrahim's Madani Economy framework, and the deft execution by the relevant economic ministries and agencies including MITI, which has led the implementation of Malaysia's revamped trade, investment, and industrial strategies. MITI's agency, the MPC, has led the coordination work on improving the WCR sub-factors across various ministries and agencies. At the heart of this leap is a more aggressive posture on bureaucratic reform and investment facilitation. MITI's leadership of the National Competitiveness Council (JKDSN) together with the Finance Ministry has driven whole-of-government efforts to streamline investment approvals, reduce regulatory burdens, ease investors' journey and modernise economic policy frameworks. Moreover, the establishment of the Special Taskforce on Agency Reform (STAR) led by Chief Secretary to the Government (KSN) — part of the wider Public Service Reform Agenda (2024-2030) and involving over 1,000 reform initiatives at federal and state levels — has helped dismantle bottlenecks that previously discouraged investors. The improvement in the international trade sub-factor—rising 11 spots to 6th globally—is also clear evidence of targeted policy outcomes under MITI's purview. This includes enhanced investment strategies by the Malaysian Investment Development Authority (MIDA), and improved trade promotion by the Malaysia External Trade Development Corporation (MATRADE). Our efforts in advancing regional agreements and accelerating participation in digital economy frameworks have also contributed to improvement in the rankings. Concurrently, in a world marked by rising protectionism, geopolitical realignments and economic fragmentation, Malaysia's steady hand in policy continuity is increasingly appreciated by global investors. This competitiveness boost is also a strong endorsement of the NIMP 2030 along with its supporting policies such as the National Semiconductor Strategy and Green Investment Strategy – all of which prioritise high-value industries such as semiconductors, green technology, and digital economy as future growth pillars. Their implementation has already created stronger linkages between industrial policy and talent development, innovation incentives and sustainability goals. Rankings, of course, are not policy goals in themselves—but they do matter. They serve as confidence benchmarks to global markets, foreign investors, and multilateral institutions. A leap of 11 positions makes Malaysia more attractive as a business destination, especially for multinationals seeking resilient and progressive emerging markets in Asia. It also reflects how our institutions – empowered with the political will, mandate and right leadership – are perfectly capable of executing coherent reform agendas for the nation. The Road Ahead: Maintain the Momentum This milestone is cause for celebration, but not for complacency. If anything, the real work begins now. While economic performance and trade efficiency have improved, there remain areas where Malaysia still lags—particularly in innovation capability, workforce productivity, digital transformation, management practices and workforce attitudes. There may be a need to complement structural reforms with human capital upgrades and culture shifts. Global digital and green transitions will require Malaysia to not only adopt new technologies but also to nurture a new generation of skilled, future-ready workers. Here, too, MITI's role will be pivotal. The Ministry will continue working closely with education and human resource agencies to ensure that industrial strategies are matched by robust talent development and pipelines. Initiatives like Academy in Industry programme by MPC, K-Youth under Khazanah Nasional, and upskilling programmes under HRD Corp, must be scaled and better integrated into the national competitiveness agenda. To sustain and further elevate Malaysia's position, it is worthwhile to draw inspiration from international best practices. For instance, Denmark's emphasis on workforce adaptability and lifelong learning ensures that its economy remains resilient and responsive to technological shifts. Meanwhile, South Korea's aggressive investments in R&D and innovation ecosystems have positioned it as a global leader in advanced manufacturing and semiconductors. Malaysia should consider incorporating these elements—such as agile regulatory sandboxes, performancebased innovation grants, and a national work-integrated and lifelong learning agenda—as part of its next phase of competitiveness reforms. More importantly, Malaysia must shift from a primarily input-driven model to one rooted in productivity and innovation-led growth. This means significantly boosting investments in R&D, creating stronger linkages between academia and industry, and nurturing a vibrant startup ecosystem. Malaysia should also emulate countries that rank highly in competitiveness, such as Switzerland, South Korea and Sweden, who lead in patents, intellectual property, and cutting-edge innovation globally. We can try to achieve this in strategic sectors such as advanced electronics, AI, clean energy, and biotech. Incentivising privatesector innovation, reforming procurement to favour innovative solutions, and enhancing funding mechanisms for techpreneurs will be crucial steps forward. Innovation must be made the 'engine' of our long-term economic resilience and prosperity. It is imperative that we maintain this trajectory. The Government has set a goal for Malaysia to be among the Top 12 most competitive economies by 2033. This is ambitious, but now, demonstrably achievable. It must be stressed that improved economic competitiveness means increased chances of attracting high impact investments which will create more job opportunities with higher wages. This latest ranking shows that Malaysia is not just playing catch-up, but also clearly positioning itself to lead especially in today's complex geoeconomic landscape. Our message to the world has been clear and consistent: Malaysia is serious about economic reforms, open for business and ready for the challenges ahead. Ultimately, Malaysia's improved competitiveness is a function of political will and determined leadership. It shows what can be achieved when a government dares to reform and focus on making tough but necessary decisions for Malaysia's future prosperity.

The Star

2 hours ago

• The Star

PM: Najib's DNAA is a judicial matter, I didn't interfere

PUCHONG: Datuk Seri Anwar Ibrahim asserted that he had no involvement in the court's decision to discharge former prime minister Datuk Seri Najib Razak of three money laundering charges involving RM27mil from SRC International Sdn Bhd. 'That is the judge's decision and the Attorney General's. I do not interfere,' the Prime Minister said briefly when approached by reporters after performing Friday prayers at the Kampung Sri Aman Mosque here yesterday. Anwar was commenting on High Court judge Justice K. Muniandy granting a discharge not amounting to acquittal (DNAA) to Najib yesterday following a request from the latter's defence team, Bernama reported. The grounds given by the judge was that the prosecution lacked the preparedness to proceed with trial and that the case had been postponed too many times since 2019. The court was informed that the prosecution had yet to obtain the necessary documentary evidence. The delay, the judge noted, had denied the accused the right to a fair and timely resolution of the case. A DNAA means the accused is temporarily discharged from the charges, but may still be prosecuted for the same offences in the future if the prosecution decides to reinstate them. The current case, which was discharged yesterday, involves three charges of money laundering involving RM27mil, allegedly received through Najib's three AmPrivate Banking accounts at AmIslamic Bank Bhd, AmBank Group Building, Jalan Raja Chulan, on July 8, 2014. Najib had on Feb 3, 2019, claimed trial to the charges under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, which carries a maximum fine of RM5mil, up to five years' imprisonment, or both, upon conviction. The former Umno president is currently serving a jail term in Kajang Prison for another case of misappropriating RM42mil in SRC International funds. On Sept 2, 2022, he filed a petition for a royal pardon. On Jan 29, 2024, the Pardons Board halved his jail sentence from 12 to six years and reduced his fine from RM210mil to RM50mil.