Malaysia's New Economic Model to boost the country's finance: UOB

SINGAPORE (Dec 11): Malaysia has come a long way from being a low-income agriculture based economy with gross net income (GNI) per capita of US$240 ($324) in 1962, to an upper middle-income manufacturing and services driven economy with US$9,850 GNI per capita in 2016.

Despite increasing external environment challenges in the form of global policy uncertainty, protectionist sentiment and geopolitical treats, Malaysia’s ability to face the unpredictability lies in pursuing forward-looking adjustments, according to UOB’s Quarterly Global Outlook.

These adjustments ensure sound macroeconomic management, market openness and liberalisation, drive new opportunities for growth, focus on innovation and technology, greater transparency and governance, fiscal and debt sustainability, human capital development, economic inclusion, as well as social cohesion.

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