Budget 2027: Govt rolls out six initiatives to attract global firms, skilled talent

Prime Minister Anwar Ibrahim announced plans to increase transparency in government projects by disclosing crucial information, such as contractors' names and contract values, upon the implementation of the Government Procurement Act in 2027. During the presentation of the 2027 Budget in the Dewan Rakyat, Anwar emphasized that the Madani reform agenda would continue to strengthen under his administration's fifth year.

To further fortify governance, a bill targeting government-owned entities and entities managing public funds will be introduced, aiming to prevent past scandals like 1MDB, the Tabung Haji crisis, and Felda's issues. Additionally, the government mandates that all loan repayments, including interest, collected by federal statutory bodies must be utilized exclusively for approved purposes and designated recipients.

To bolster operational capabilities, the Malaysian Anti-Corruption Commission (MACC), police, Domestic Trade and Cost of Living Ministry, Customs Department, and Malaysia Competition Commission (MyCC) will receive RM1.1 billion. Lastly, the government is exploring the establishment of a Malaysian Law Reform Commission to identify and address outdated laws and legal gaps.