KUALA LUMPUR: The government's move to sign a Memorandum of Understanding (MoU) on Political Stability and Transformation is capable of enhancing foreign investors' confidence and interest to seek investment opportunities in Malaysia, according to an economist.
University Malaya senior lecturer Dr Mohammad Tawfik Yaakub said at this moment of time, the nation needs more foreign investments as well as an expansion of existing investments to revitalise the economic sector.
"This is an extraordinary move by the government led by Prime Minister Datuk Seri Ismail Sabri Yaakob.
"It is difficult for any government to open the space and extend political peace greetings. This shows that the government is very open, committed and prioritises the voice of the people," he told Bernama.
He added that the move has also helped to soothe the stock market's sentiments which were rather volatile previously due to the country's political instability.
"This offer will restore economic stability that was severely affected by the COVID-19 pandemic.
"In fact, it creates confidence -- not only among investors but also the people -- for the Ismail Sabri-led government," he said.
Mohammad Tawfik said notwithstanding the short period of the government's remaining term of one year and six months, the opposition has also shown a high commitment in helping the government undertake various efforts to fight the pandemic and revive the country's economy.
"For me, what is important is that there is a clear plan to give a long-term and short-term impact to the country's economic recovery.
"The most important thing is to ensure economic recovery, regardless of the government composition; and the recovery policies, especially the economic ones, must change the people's lives for the better," he said.
He added that the government's assistance should no longer be in the form of one-offs, instead, it should be in the form of providing a more self-sustaining working and economic environment for the people.
This can be done by creating more entrepreneurial opportunities, providing tax exemptions and business equipment, as well as facilitating modern farming, especially in the city area, said Mohammad Tawfik.
"At least this can help to lower grocery expenditures," he said.
He is confident that small and medium-sized businesses and small traders, both existing and future ones, will benefit greatly from the transformation.
"They comprise of the B40 group which is the foundation of the economic supply chain at the higher level.
"If the foundation can be strengthened, we will be able to restabilise and revitalise the economic sectors in Malaysia," he said.
The federal government and Pakatan Harapan (PH) today created history by signing the MoU on Political Stability and Transformation, paving the way for a new political landscape based on bipartisan cooperation.
Ismail Sabri said the six-point MoU established bipartisan cooperation which upholds the #KeluargaMalaysia spirit.
He said the MoU covered the areas of strengthening the plan to fight COVID-19, the transformation of the administration, Parliamentary reforms, ensuring judicial independence, the Malaysia Agreement 1963 (MA63) and formation of a steering committee.
The prime minister said this is in line with the commands issued by Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah when opening the fourth session of the 14th Parliament today.
"His Majesty has decreed that all quarters should practise deliberative democracy in seeking solutions to whatever problems for the sake of achieving the objectives of a prosperous Malaysia that is inclusive and sustainable," he said in a statement.
-- BERNAMA
Bernama
Tue Sep 14 2021
Mohammad Tawfik said Malaysia needs more foreign investments as well as an expansion of existing investments to revitalise the economic sector. - BERNAMA
Malaysia, Uzbekistan akan ubah jawatankuasa bersama dalam perdagangan kepada suruhanjaya bersama
Malaysia dan Uzbekistan telah bersetuju untuk mengaktifkan Jawatankuasa Bersama Perdagangan Antara Kerajaan dan mengubah jawatankuasa itu menjadi Suruhanjaya Bersama Antara Kerajaan.
13 negara gesa sekatan terhadap Israel daripada serang Rafah
Antara negara yang menandatangani surat berkenaan ialah Australia, yang mana menteri-menteri luar negara terbabit turut meminta gencatan senjata yang mampan.
Sekolah di bandar Bitung ditutup
Sekolah-sekolah ditutup di Bandar Bitung selepas abu dan hujan dari gunung berapi Ruang mencurah di Sulawesi Utara Indonesia.
Brazil dipilih sebagai tuan rumah Piala Dunia Wanita FIFA 2027
Brazil akan menjadi tuan rumah Piala Dunia Wanita Persekutuan Bola Sepak Antarabangsa (FIFA) 2027 selepas undian di Kongres FIFA ke-74 pada Jumaat.
40 senator Thailand mohon pemecatan Srettha
Ketika rombakan Kabinet bulan lalu, senator itu membantah pelantikan bekas peguam, Pichit Cuenban, sebagai Menteri di pejabat Srettha.
Lelaki bakar rumah ibadat ditembak mati
Polis menembak mati seorang lelaki bersenjata yang membakar rumah ibadat di Rouen Perancis.
Bayaran dam dan korban melalui THiJARI diteruskan
Lembaga Tabung Haji (TH) meneruskan perkhidmatan bayaran dam dan korban melalui aplikasi THiJARI untuk musim haji tahun ini seperti tahun-tahun sebelumnya, bagi memudahkan bakal jemaah haji negara untuk melunaskan tanggungjawab masing-masing.
Singapura kutuk, nasihat warganya di Malaysia berhati-hati
Singapura mengutuk sekeras-kerasnya serangan ke atas Balai Polis Ulu Tiram di Johor pada Jumaat, yang mengakibatkan kematian dua anggota polis dan mencederakan seorang lagi.
Pengajaran kepada kita, akibat fahaman radikal
Insiden yang menimpa dua anggota polis di Ulu Tiram patut dijadikan sebagai pengajaran akibat bila berfahaman radikal.
KJ beri gambaran tak cepat kembali ke dunia politik, jika mampu bertahan
Khairy Jamaluddin berkongsi pengalaman dalam program Ayuh Johor, termasuk melibatkan kejayaan ketika menggalas tugas sebagai menteri sehingga kekalahannya dalam Pilihan Raya Umum Ke-15, yang lalu.
Malaysia, Uzbekistan akan ubah jawatankuasa bersama dalam perdagangan kepada suruhanjaya bersama
Malaysia dan Uzbekistan telah bersetuju untuk mengaktifkan Jawatankuasa Bersama Perdagangan Antara Kerajaan dan mengubah jawatankuasa itu menjadi Suruhanjaya Bersama Antara Kerajaan.
Malaysia, Uzbekistan akan teroka peluang kerjasama dalam sektor petrokimia
Malaysia dan Uzbekistan bersetuju untuk meneroka peluang kerjasama dalam sektor petrokimia dan penyelesaian tenaga hijau bersih.
Malaysia, Uzbekistan boleh bekerjasama teroka bidang baharu pendigitalan, peralihan tenaga
Perdana Menteri berkata kedua-dua negara juga boleh menjalin kerjasama yang baik dalam sektor halal, perbankan dan teknologi makanan.
Malaysia lihat Kazakhstan sebagai rakan strategik dalam rapatkan hubungan Asia Tengah dan Asia Tenggara
Malaysia menyifatkan Kazakhstan sebagai rakan strategik dalam membina hubungan rapat antara Asia Tengah dan Asia Tenggara.
Presiden Kazakhstan nyatakan kesediaan tingkatkan interaksi, kerjasama dengan Malaysia
Presiden Kazakhstan Kassym-Jomart Tokayev menyatakan kesediaan negaranya untuk meningkatkan interaksi dan kerjasama dengan Malaysia semasa lawatan rasmi Perdana Menteri ke ibu negara Astana.
Ringgit dibuka rendah berbanding dolar AS
Ringgit dibuka rendah berbanding dolar AS pada Jumaat berikutan pelabur menunggu pengumuman mengenai prestasi KDNK suku pertama 2024.
Brazil komited bekerjasama dengan Jakim dalam pembangunan halal
Badan pensijilan halal Brazil, Fambras Halal optimis Malaysia akan sentiasa menjadi peneraju dalam industri halal di peringkat global.
Astro tawar 51 perlawanan UEFA EURO 2024 HD di SPOTV Stadia, SPOTV2
Semua pelanggan Astro Sports Pack akan mendapat akses percuma sehingga ke perlawanan akhir pertandingan tersebut
Malaysia yakin Palestin telah buktikan kelayakannya untuk keanggotaan penuh PBB
Malaysia menggesa negara anggota Pertubuhan Bangsa-Bangsa Bersatu (PBB) untuk menyokong keanggotaan penuh Palestin menyertai badan dunia itu.
Orkid Malaysia bakal dipamerkan di KazanForum 2024
Orkid Malaysia akan dipamerkan semasa edisi ke-15 KazanForum 2024 yang bermula di Tatarstan pada Selasa dan akan diteruskan sehingga Ahad (19 Mei).