Malaysia’s economy is dominated by government-linked companies (GLCs) and government-linked investment companies (GLICs). The government should reduce its involvement in the private sector and allow for a free market without excessive state intervention.
We need to cut government ownership in companies and retain state control only in sensitive sectors like utilities. Politicians should not be on the boards of state-owned companies.
The private sector should be driving economic growth, not the government.
Discriminatory practices in business should also be reduced so that the best talents are recruited no matter their background. Contracts should be given out on the basis of meritocracy.
I believe that price control laws should be abolished. Such regulations only hurt small and medium business owners.
Personal income tax should be reduced, although the goods and services tax (GST) can be retained. The State should avoid taking citizens' hard-earned money.