ON July 27, Prime Minister Datuk Seri Anwar Ibrahim introduced the Madani Economy framework titled “Empowering the People”. The initiative aims to elevate the status and dignity of all Malaysians, with a particular focus on improving the livelihoods and quality of life for the B40 and M40 groups by enhancing their income opportunities.
The economic initiative is a comprehensive plan that addresses several crucial areas. These include modernising the agriculture industry, nurturing local start-ups, improving transportation infrastructure and expanding Subang and Penang airports, providing access to clean water in Kelantan and Sabah, assisting first-home buyers with financing to own a property, supporting the Electrical and Electronic industry, bolstering Micro, Small, and Medium Enterprises, enhancing Technology, Vocational, Education and Training (TVET) and promoting exposure to innovation and artificial intelligence.
These measures aim to equip Malaysians with the skills and capabilities necessary to be competitive global workers.
Despite facing numerous challenges, Anwar is determined to turn the Madani Economy Framework into reality through well-structured execution of various initiatives, with the aim to enhance Malaysia’s competitiveness and attractiveness as a favoured investment and tourist destination.
The immediate concern that requires attention is the cost of living and the need for equitable wealth distribution to support the lower and middle income groups of the population.
It is important that the Special Task Force facilitating the changes are well-versed with the Madani framework for effective implementation.
It must also ensure good governance, transparency, fairness and accountability while fulfilling its responsibilities.
Furthermore, it is essential to disseminate the concept to both the private sector and civil service to ensure a clearer understanding of the initiatives and enhance global competitiveness.
Malaysia currently holds the 32nd position in the global competitiveness index and aims to achieve a top 12 ranking within the next 10 years. While this goal may seem ambitious, it is attainable if all parties play their part.
It is crucial to address leakages, power abuses and corrupt practices with stricter policies and legislation.
Moreover, implementing economic structural reforms will lead to the creation of more jobs for all and the establishment of a robust social protection network.
In addition to the above, there is a pressing need to implement comprehensive healthcare, quality education and human resources reforms.
Improving transportation and accessibility to essential facilities is also vital.
We also need to ensure affordable housing for the lower-income group and better wages. Creating a conducive work environment is equally important.
Increasing women’s participation in the labour market and enhancing legislations and regulations in this regard are imperative for fostering a more inclusive society and workforce.
To boost women participation in the workforce, it is essential to introduce programmes that encourage more mothers to rejoin employment.
Implementing initiatives related to the care economy, such as establishing on-site childcare centres at workplaces, can be instrumental in achieving this goal.
A concrete and well-thought-out plan of actioln is necessary for the successful realisation of this framework.
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