Kuala Lumpur (VNA) – Malaysia will restructure its economy based on three main strategies to eradicate poverty, restructure and restore the economy, as well as generate the economy anchored on the concept of Malaysia Madani, said Prime Minister Anwar Ibrahim.

As reported by the local news agency Bernama, during his January 19 address at the event Developing a Malaysia Madani, the PM said the nation’s economic expansion and growth should be achieved in a wider context of human economy that prioritises the people’s needs.

Anwar added that the main driver that would form the core of Malaysia Madani would be anchored on four main strategies, comprising rebuilding the economy, guaranteeing wellbeing of the people, reforming democratic and legal institutions, as well as establishing a trustworthy administration.

The number of poor people in Malaysia is still high with more than 136,000 households in the hardcore poor category and over 308,000 in the poor category as of July 2022.

Anwar said, besides that, in efforts to restore and generate the economy, the government will encourage and fully support local industries that contribute to growth and attract foreign investments to ensure the wellbeing of the people in line with the core Madani concept./.
VNA