A recent survey by Ipsos indicated that more Malaysians are confident that the country is on the right track towards growth. Corruption in government is no longer the biggest concern that citizens have, the survey suggested.
According to The Sun Daily, the Ipsos survey showed that 57 percent of the 1,500 participants had faith in Malaysia's current direction. The remaining 43 percent doubt that economic conditions should be trusted.
Furthermore, a large portion of younger participants expressed more concerns about the current issues that Malaysia is faced with. Businesses also provided a lower government rating of 2.9 percent in satisfaction rates compared to 3.7 from 2018.
Ipsos Business Consulting Country Head Kiranjit Singh said 52 percent of business owners surveyed expressed uncertainty over Malaysia's current economic conditions. 33 percent of entrepreneurs said they still had confidence in the government's initiatives.
Kiranjit explained that most businesses were worried about how the government will address issues on the depreciation of the Malaysian ringgit. Businesspeople were also concerned about whether Prime Minister Tun Dr. Mahathir Mohamad's administration will improve funding and assistance for businesses.
To address the concerns of Malaysian citizens and entrepreneurs, Kiranjit said the government should improve its communication of economic plans to the masses. Investments should also be boosted to encourage the corporate sector.
The Malay Mail noted that the Ipsos survey indicated businesspeople in Malaysia have started getting tired of the Pakatan Harapan (PH) government discussing initiatives that were still in the early stages of development.
Kiranjit explained that providing too much information early on and without certainty may result in misinterpretations in the business realm. This scenario could further trigger anxiety and worries among entrepreneurs hoping for the better.
Amid increasing concerns over the government's policies and economic initiatives, other politicians spoke in defense of the Pakatan Harapan administration.
Finance Minister Lim Guan Eng said on Thursday that Malaysians should give the government more time to push the economy towards recovery. "The decades-long debts under the previous government cannot be resolved in a year. We are not magicians, there has to be planning to resolve and restore the country's economy," he pointed out.
Guan Eng asked Malaysian citizens and entrepreneurs to allow more time for the current administration to heal a "sick" economy. He said the Pakatan government is working to reduce debts incurred in the past.
While debts continue to haunt Malaysia, Guan Eng said these problems will not come in the way of the government's efforts in helping the economy recover and regain its leadership status in Southeast Asia.
