Country needs to expand its Madani Economy Framework to grow

Malaysia News

Country needs to expand its Madani Economy Framework to grow
EconomyMadani Economy FrameworkNational Growth
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FISHING enthusiasts can now fish for a good cause as the Selangor government will pay RM1 for every kilogramme of suckermouth catfish, locally known as 'ikan bandaraya', that is caught.

PETALING JAYA: The country needs to broaden the Madani Economy Framework announced last July, says Deputy Investment , Trade and Industry Minister Liew Chin Tong .

"As we celebrate the anniversary of the unveiling of the Madani Economy Framework, I would like to present my interpretation of the ceiling and the floor to sharpen our thinking," he said. He said that when Anwar articulated the aspiration that Malaysia’s economy would be able to grow at 6% per annum one year ago, it was hard for many to imagine that.

Liew said that the country's vicious cycle of low wages, low skills, low technology and low productivity has to end. "Making our workers richer also makes perfect economic sense. Their wages will be spent in our economy and thus create stronger aggregate demand, and feed into much larger domestic consumption funded by income and not by debts," he said.

"At the decision-making levels of the civil service, 42% are women. This is very high among developing countries. From 2023 onwards, Malaysia has mandated 30% of public listed board membership to be constituted by women, and compliance is high.

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