G25 proposes sweeping economic and governance reforms in 92-page report

  • Nation
  • Saturday, 09 Dec 2017

KUALA LUMPUR: Hoping to restore economic confidence in Malaysia, the G25 group of prominent Malays has launched "Invigorating Economic Confidence in Malaysia", a 92-page report containing proposals to reform key areas of the country's economy as well as its governance structures.

In his opening remarks during the launch, former Khazanah Nasional managing director Tan Sri Mohd Sheriff Mohd Kassim (pic) said that while the group was compiling the recommendations for economic reforms, it realised that there was a need for good governance.

"This will create confidence for investors and businesses to continue investing and create more employment opportunities, more wealth, income and social mobility, and creating a more balanced social order in the country," said Mohd Sheriff on Saturday.

The report's first part deals with structural economic and workforce issues, such as reforming the country's workforce and foreign labour policies to improve productivity and competitiveness among Malaysia's businesses.

Other proposals include reworking the country's taxation system, with the private sector giving its input, and being balanced out by further examination from international institutions such as the International Monetary Fund and the World Bank.

The group also touched on the role of government-linked corporations and government-linked investment corporations (GLCs and GLICs) in the country's economy.

One section of the group's report on structural governance touched on the 1Malaysia Development Berhad issue and the need for closure.

It said that even if there was no prosecution for wrongdoing, a full and comprehensive report on the GLIC's official status and its financial position would quell concerns.

Another proposal in the report involves reforming the Attorney-General's office, to separate the A-G's prosecutorial powers from his position as legal advisor to the Government.


Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Nation

Masidi: Two new Covid-19 clusters in Sabah identified, linked to plantation industry
Health Ministry suggest funeral gatherings be limited to 20 after emergence of new Covid-19 clusters
Don’t speculate over staff member’s death, deceased was a healthcare assistant, says Raja Permaisuri Bainun Hospital director
Lintas flyover concessionaire will repair cracks soon, says Bung
Wisma Putra: Malaysia supports call for Asean Covid-19 response fund
Azwan Ali assisting police in probe over video clip allegedly trivialising Emergency proclamation
Passengers must have approval before crossing districts and state borders, cabbies, e-hailing drivers told
Health DG: 16 new Covid-19 clusters reported, 11 linked to workplaces
Ismail Sabri: 577 arrested over SOP violations on Wednesday (Jan 20)
Ismail Sabri: Use of gloves not part of SOP

Stories You'll Enjoy