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The Ministry of Economic Affairs, together with the World Bank, is conducting a Productivity and Investment Climate Survey (PICS) to better understand the investment climate in Malaysia and how it affects business performance.
Malaysia’s transition from low-income to upper-middle-income status has been a success. The country has experienced a long period of robust economic growth while implementing ambitious development policies that have fostered the rise of new industries. High rates of infrastructure investment, accelerating private-sector activity, a rising female labor-force participation rate, and a growing working-age population, pushed the average annual GDP growth rate to 6.3 percent between 1960 and 2016.
However, the economic model that enabled Malaysia to reach upper-middle-income status will not sustain robust growth indefinitely. Malaysia’s productivity growth rate has declined amid concerns about eroded competitiveness and weakened standards of governance. In recent years total factor productivity growth has contributed less to Malaysia’s growth than in regional peers. Between 1990 and 2014, Malaysia’s productivity growth rate was well below the regional average and middle-income countries worldwide. Furthermore, while Malaysia’s largest firms show levels of productivity that on average are close to that seen in high-income comparators, small and medium-sized firms are well behind.
As Malaysia strives toward high-income and developed country status, accelerating productivity growth has become the country’s central economic policy challenge. Productivity growth has become increasingly important as the country’s traditional economic engines have slowed. While the GDP growth rate has proven resilient in recent years, structural constraints are emerging. Supply limitations in the natural resources sectors, together with concerns about public debt, have reduced the pace of capital accumulation. Demographic trends are slowing the growth of the labor force. And disruptive technologies are changing the nature of work and of business. In this context, a sustained increase in private investment, coupled with improvements in productivity, will be necessary to maintain a sustainable economic growth trajectory that enables Malaysia to reach high-income and developed status, and grow beyond.
The Ministry of Economic Affairs, together with the World Bank, is conducting a Productivity and Investment Climate Survey (PICS) to better understand the investment climate in Malaysia and how it affects business performance. The survey will be used to develop policies addressing issues and challenges faced by the private sector in Malaysia. Lifting these obstacles will be key to productivity improvements and towards achieving the Malaysian aspiration of becoming a developed and inclusive nation. Analysis of the survey data will help to inform the preparation of the 12th Malaysia Plan.
The fieldwork of this survey is expected to take place between May 2019 and September 2020. In this regard, Ipsos Sdn. Bhd. has been appointed as the official enumerator to implement the survey, interviewing about 3,000 businesses in total throughout Malaysia. In the coming weeks, the enumerator will be reaching out to arrange appointments interviews with businesses. The cooperation and participation of the private sector will be essential for this project to be successful. Further information about the indicators that are generated using similar surveys in other countries can be found by visiting the website: http://www.enterprisesurveys.org.
All information collected will be held in the strictest confidentiality. Neither the names of respondents nor the names of businesses surveyed will be made available to any users of these data or published in any documents. Only anonymized data will be published and both the Ministry of Economic Affairs and the World Bank guarantee confidentiality for all identifying information. At the end of the project, all survey participants will receive a short document with a summary of the main results. This information, which will be provided by e-mail or regular mail, will enable survey respondents to benchmark their businesses and industries against domestic and international competitors.
If you have any questions and concerns about this survey, please feel free to contact the representatives of the World Bank and Ipsos Sdn. Bhd. as indicated below.
Name: Arvind K. Jain
Email: [email protected]
Phone: +603 2263 4906
Name: Chiew Sian Tay
Phone: +603 2280 6460
Email: [email protected]
Name: Wan Nuradiah Wan Modh Rani
Phone: +603 2280 6444
Email: [email protected]
Further explanation and contact details are also available at MEA website as follows:-
