ASEAN KEY DESTINATIONS
World Bank: Malaysia needs more reforms
The World Bank, in the fourth edition of the Malaysia Economic Monitor, noted that while the project-based initiatives as represented by the National Key Economic Areas had demonstrated “notable progress,” cross-cutting reforms under the NEM should be accelerated.
A minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop told reporters after the launch yesterday that there was more to be done.
Tan Sri Nor Mohamed Yakcop says resources are needed to overcome major challenges He added that the resources were needed to overcome major challenges. “It's all a matter of sequencing,” he said.
The World Bank in the economic report observed that foreign investors remained “skeptical” about the impact of the cross-cutting reform announcements under the NEM.
“Most do not price the NEM measures into their medium-term forecasts, considering them instead as upside risk factors,” the Washington-based international financial institution said.
The World Bank said the skepticism was likely reflected in two issues - the difficulty in implementing cross-cutting reforms and the perception, likely due to a lack of communication, that the government was not doing enough in pushing the NEM reforms.
Statistics revealed in the report included a conservative estimate of a 1 million strong Malaysian diaspora, largely located in Singapore, Australia, Brunei, Britain, the United States and New Zealand.
Of this, nearly 90 were of ethnic Chinese descent while for the diaspora as a whole, one-third had tertiary education with the rate of the qualified migrating having risen in recent years. The report added that Singapore was the destination of 57 percent of those who had left.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below