Malaysia must learn from failed industrial policies before starting anew | The Malaysian Insight

Malaysia must learn from failed industrial policies before starting anew

Workers at a Proton factory in Tg Malim, Perak. Successful industrial policies depend on timing, local capability, competition and empowerment of the private sector to be its engine of growth. – EPA pic, June 7, 2020.

LESSONS must be learned from Malaysia’s failed industrial policies before the country rushes to implement new ones, said experts, as calls rise for Malaysia to restructure its economy during recovery from the Covid-19 crisis. As the pandemic exposes structural flaws in the economy and wipes out businesses, calls have surfaced for Malaysia to take the opportunity to rebuild by investing in industries that can yield long-term growth.

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