The boutique think tank noted Putrajaya’s plan to make Malaysia the top 30 largest economy in the world and improve its global competitiveness ranking to be in the top 12 while committing to fiscal sustainability by targeting a deficit of 3% or lower, would set the right footing for fresh investments and economic development but implementation remains key to its success.
CME’s Ferlito also agreed with the move to improve the ease of doing business, strengthening Malaysian Investment Development Authority and promoting industrial infrastructure and the importance of reviving domestic direct investment. “CME hopes that they will find a fast implementation with amended immigration rules and with a comprehensive fiscal reform that needs to be built on a new goods and services tax , improving collection though fiscal devolution and rationalisation of subsidies and government spending,” it noted.
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