OECD Economic Surveys: Malaysia 2021
Like many other countries, Malaysia was hit hard by the COVID-19 pandemic starting
in early 2020. Its past policy prudence has allowed Malaysia to react swiftly and
boldly to the public health and economic crisis. Nevertheless, the crisis revealed
the necessity of further reforms that Malaysia needs to pursue in order to achieve
more inclusive and high growth after the pandemic. Vulnerable workers have been more
affected during the pandemic and many firms have been urged to use digital tools,
such as e-commerce and teleworking, for the first time. Going forward, strengthening
social protection is of utmost important to improve the well-being of the Malaysian
people, including self-employed workers, and prepare for the ageing society. Easing
government regulations further is crucial to stimulate business dynamism and restore
vigorous growth. Accelerating digitalisation will be key for Malaysian firms to become
more productive in the post-pandemic era. Along with its further economic development,
Malaysia needs to transform itself into a greener economy.
SPECIAL FEATURES: PRODUCT MARKET REGULATION; DIGITALISATION; TELEWORKING
Published on August 12, 2021Also available in: French
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