2021 OECD Economic Surveys: Malaysia 2021

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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.


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This Survey is published under the responsibility of the Secretary-General of the OECD. The draft report was discussed at a meeting of the Economic and Development Review Committee on 24-25 June 2021, with participation of representatives of the Malaysian authorities. The 2021 OECD Economic Survey of Malaysia was prepared by Kosuke Suzuki, Zahid Ismail, Wan Fazlin Nadia Wan Osman, Sugumar Saminathan, Mohamad Norjayadi Tamam, Zafrulla Hussein, Suraiti Zainal Abidin, Halimahton Sa'diah Let, Mohamad Muzaffar Abdul Hamid, Nurrul Nur Aisyah Hamran, Suhaimi Hamad, Peter Gal, Francesco Losma, Laurence Todd and Eva Tène, under the supervision of Patrick Lenain. It benefitted from contributions at various stages by Alvaro Pereira, Isabell Koske, Cristiana Vitale, Ashikin binti Abdul Razak, Adlina Merican binti Zainuddin Merican, Tan Fung Ling, Zaharel Reeza Bin Ruslan and Mohd Aizuddin Noor Azman. Isabelle Luong provided statistical assistance and Stephanie Henry and Karimatou Diallo provided editorial support. Support from the World Bank and the governments of Malaysia and Japan is gratefully acknowledged. Information about the latest as well as previous Surveys and more information about how Surveys are prepared is available at http://www.oecd.org/eco/surveys.


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