Chamber chief calls for ‘less talk, more action’ on Madani economy

 

Prime Minister Anwar Ibrahim and Cabinet ministers at the launch of the Madani economic framework in July. (Bernama pic)

PETALING JAYA: The Anwar Ibrahim government has been urged by a business chamber leader to focus on getting new projects signed off and started.

“Bottom line, less talk and more action,” said Donal Crotty, chairman of the Irish chamber of commerce Malaysia. “Start putting dates on your programmes for implementation, start putting numbers on your tax changes as indicated in the 2024 budget,” he added.

Donal Crotty.

Crotty’s remarks come in the wake of a market research report of some frustration over a perceived slow start to critical projects under the “Madani Economy” agenda set by Anwar’s government.

The sluggish pace in the implementation of key economic projects indicates that the “Madani Economy” framework has mostly remained on paper, said economist Carmelo Ferlito of the Center for Market Education.

Carmelo Ferlito.

Ferlito said the slow progress and sluggish project approvals could be attributed to the composite coalition Cabinet with “different and sometimes conflicting visions”. At the same time, there may also be a resource issue.

He said the government, research houses, and the business community should realise that it will take more than a master plan or any government plan to effect a change in the country’s economy.

“It is the entrepreneurial attitude on the ground which will transform the economic landscape. The economy cannot merely change as a consequence of a wish list,” he said.

Crotty said the slow progress in project implementation might be due to the six state elections held in August.

He said investors need assurances of stability in government, consistency in policies and proof in implementation.

“It’s no different for business. Customers can be wooed by marketing but the proof is in the delivery, quality and performance of product and service,” he said.

William Ng.

Small and Medium Enterprises Association (Samenta) chairman William Ng, on the other hand, said the slow pace was in itself not necessarily a bad omen, especially if it meant better governance and less corruption.

“I do think this is a teething issue and is for the greater good of the country if projects are better scrutinised and affected stakeholders views are sought.

“We are not saying that in the past, political leaders’ instructions were followed to the tee. But we can see that our civil servants are now more careful to ensure better governance, which can sometimes be wrongly perceived as being ‘slow’.” - FMT