Corporate, govt experience makes Johari perfect for Miti job, say economists

Yeah Kim Leng of Sunway University says that with the Titiwangsa MP’s appointment, Malaysia can expect more practical and investor-friendly policies.

Economists say that while Johari Ghani’s experience makes him the best man for the Miti job, Akmal Nasir will have a more difficult time at the economic ministry.

PETALING JAYA:

 Johari Ghani’s corporate background and experience in government make him the ideal choice to head the investment, trade and industry ministry (Miti), according to two economists.

Sunway University economist Yeah Kim Leng expects Johari’s background in business to lead to more practical and investor-friendly policies, with closer attention paid to costs, returns and how supply chains work.

“Johari understands both the operational realities faced by businesses and the macroeconomic levers of government,” Yeah told FMT, adding that having a good grasp of such issues is vital to attracting investment and improving local industries.

Johari succeeded Tengku Zafrul Aziz as the Miti minister in a Cabinet reshuffle on Tuesday.

The post had been left vacant since Tengku Zafrul tendered his resignation upon the expiration of his second term as senator on Dec 2.

According to Bernama, Johari has accumulated more than 25 years of experience in the corporate sector in Malaysia, and has held many senior leadership roles, in both public-listed companies and private businesses.

His corporate experience spans industries such as fast food, manufacturing, and agriculture, and he is renowned as a turnaround specialist, having gained prominence for successfully helming and returning major companies to profitability in the late 1990s.

The Titiwangsa MP, who was previously the plantations and commodities minister, said yesterday that one of his priorities at Miti is to boost Malaysia’s economy with domestic protection policies.

Another economist, Geoffrey Williams, agrees that Johari’s business background qualifies him for the job.

He said Johari’s main focus should be to keep foreign direct investments (FDIs) at a high level while revitalising domestic direct investments (DDIs) which are still “languishing”.

On trade, Williams said Johari could push to extend the tariff cuts offered to the US to all trading partners in return for reductions in their tariffs.

“More importantly he must push for the removal of non-tariff barriers under the Agreement on Reciprocal Trade (ART) (with the US) and again strike similar deals with other trade partners,” he said.

What Akmal must do to succeed 

On Akmal Nasir’s appointment as economy minister, Yeah said the Johor Bahru MP is in for a tough time as the ministry primarily plays only a coordinating role.

“The success of the economy minister depends less on technical expertise and more on political acumen and the ability to coordinate across ministries,” he said, adding that strong support from the prime minister is key.

The former deputy minister of energy transition and water transformation took over from Rafizi Ramli who resigned in May.

Williams said Akmal should prioritise longstanding issues that affect many people, especially low income and the growing pensions crisis.

“These are major areas that need attention but have been overlooked,” he added. - FMT