PETALING JAYA: Prime Minister Anwar Ibrahim says clear policies are vital to inspire confidence in foreign and local investors.
Anwar, who is also the finance minister, said that currently there was a trust deficit among investors due to past policies, Bernama reported.
“(Past) policies had been carved out to benefit the elites at the expense of the majority of the population,” he was quoted as saying.
Anwar said this was the reason his government had tweaked the manner in which policies were reviewed by taking into account the challenges faced by the country.
He said the Madani economy, the National Energy Transition Roadmap (NETR), the New Industrial Master Plan 2030 and the 12th Malaysia Plan mid-term review were examples of clear policies.
“This shift in governance, in attitude, is to me, critical,” he said in his closing remarks at the 18th Khazanah Megatrends Forum.
He went on to explain that a policy shift meant acknowledging the limitation of the past and to adopt a new way of doing things to effect change.
“Things fall apart because there are some fundamental flaws in the system. Therefore, there must be a willingness to shift, formulate new policies and part from the way of doing things in the past.”
Anwar, who is also Khazanah’s chairman, went on to say that the elites were generally resistant to change as they were used to the abuse of power and position and corruption.