PETALING JAYA: The latest Goldman Sachs Group report listing Malaysia as the 25th largest economy in the world by 2040 will not only put the nation on the radar of investors but is a testament that the government’s economic policies are in the right direction, according to economists.
However, they pointed out that timely execution is key to achieving the intended economic targets, adding that the right initiatives and reforms are also needed to ensure Malaysia’s economy would further improve.
UCSI University Malaysia associate professor of finance Liew Chee Yoong told StarBiz that the Goldman Sachs report reflects optimism about Malaysia’s long-term growth potential.
“To realize this potential and address competition from neighboring countries, Malaysia needs to strengthen its economic policies, focusing on innovation, enhancing workforce skills, and improving infrastructure.
“Policies promoting sustainable development and digital economy will also be significant,” said Liew, who is also a research fellow at the Centre for Market Education (CME).
Source: The Star
