POLITICAL stability and clarity in policies are vital for any economy to thrive, Prime Minister Anwar Ibrahim said today.

Anwar said while clarity and consistency in policies are required, the effective implementation of policies also plays a vital role in wooing investors.

“Then, of course, the effective implementation. We all talk about the ease of doing business,” he told a question and answer session at the 30th Asia-Pacific Economic Cooperation (Apec) Chief Executive Officer Summit titled “The Global Economy and State of The World” in San Francisco yesterday.

Anwar, who is also finance minister, said this when asked what the most important tools political leaders from middle-sized economies can use to work with their business communities, and on the economic partnerships among their friends and partners in the Asia Pacific region.

“We all talk about a one-stop agency. The one-stop agency does not mean that it stops there. It means you have to facilitate and accelerate the process with clear procedures and policies,” he added.

Anwar said Malaysia is very fortunate to have drawn investments from China, the United States, Europe, and also from the region, which have exceeded expectations.

“(The investments) I am talking about are huge, and this signifies the confidence of the private sector in the way we set policies and we do business,” he said, adding that good governance under his administration has attracted the inflow of investments.

Anwar reiterated that a country must remain tough when it comes to policy implementation and tackling corruption, especially against the way of doing business that squanders public funds to enrich those in power.

He said he has made clear his stand when it comes to corruption.

“I think we are on the right track to propel the economy of our country in the next few years. (We are) very ambitious,  and I think based on the statement, well, in the next six, seven months, we can achieve that (economic growth target),” he said.

The prime minister also took the opportunity to woo investors to invest in Malaysia and Asean.

“Malaysia and Asean are the most stable and vibrant places to invest, and I look forward to meeting you individually in Malaysia,” he said.

Anwar arrived in San Francisco on Monday for the 30th Apec Economic Leaders’ Meeting from November 14 to 17, marking his maiden visit for the official meeting as prime minister.  

He is accompanied by his wife Dr Wan Azizah Wan Ismail, Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz, Foreign Minister Zambry Abd Kadir,  Communications and Digital Minister Fahmi Fadzil as well as other senior government officials. – Bernama, November 16, 2023.