KUALA LUMPUR: Maybank Investment Bank Bhd has praised the MADANI Economy’s focus on pressing issues such as governance, education, and corruption.
Its head of equity research, Anand Pathmakanthan said that the MADANI Economy concept does not just talk about growth, but it also emphasises income distribution.
“By having a more equitable income distribution for workers and wages, in particular, is beneficial to everyone.
“That is what a healthy economy is based on because then you have a much more consumption-driven economy,” he said during the second half of 2023 (2H2023) retail equity market outlook webinar on Saturday.
Pathmakanthan also said that countries like Indonesia and the Philippines are attractive to foreign investors because these countries have big internal consumption.
“We can generate that consumption story in Malaysia if there is a more equal distribution of returns between capital and labour.
“I think the government has got that right in terms of focusing on fixing that,” he said.
With the operationalisation of the framework, hopefully, we can reach that 5.5 to 6.0 per cent gross domestic product (GDP) target which the modality framework is targeting, Pathmakanthan added. — BERNAMA
