GOVERNMENT-LINKED companies and investment companies must be conscious of their role in the economy and set their priorities straight so as to drive sustainable growth.

Permodalan Nasional Bhd (PNB) group chairman Zeti Akhtar Aziz said the corporate sector plays an important part towards achieving the agenda.

“In this highly dynamic environment, corporate Malaysia needs to be well-positioned to… rise up and face complex challenges, to ensure sustainability to support the progress and development of our nation,” she said in her welcoming speech at the inaugural PNB Corporate Summit 2019 in Kuala Lumpur today.

She said the economic landscape is changing dramatically, with geopolitical and social developments having financial implications, and rapid technological advancements having a transformative effect.

Climate change and other environment-related matters, too, have an impact on the economy, said Zeti.

On global growth, she said conditions are expected to improve next year, pointing to recovery in several emerging markets and developing economies, but cautioned that downside risks remain.

“Against this challenging global backdrop, the Malaysian economy continues to expand at a reasonable rate, supported mainly by domestic demand, and it remains an attractive investment destination. Significant improvement in terms of approved investments was recorded in the first half of the year.”

On the public sector, she said there is a need to strengthen the education system, to support the growth and transformation as envisioned by the government, as well as to boost the country’s financial position.

“While the sector is not in debt distress, the prevailing conditions limit the potential of fiscal policies.”

The summit was opened by Prime Minister Dr Mahathir Mohamad. – Bernama, October 30, 2019.