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October 2018

Inclusiveness in the new Malaysia

Kenneth Simler's picture
Also available in: Bahasa Melayu
Malaysia’s journey towards becoming a high-income nation will become more meaningful if all Malaysians are given the opportunity to share the benefits of prosperity. Photo: World Bank/Samuel Goh
Since 1992, October 17 has been recognized as the International Day for the Eradication of Poverty, or more simply, End Poverty Day by the World Bank. It is a day for the world to engage on the progress made and actions needed to end poverty.

To mark this year’s End Poverty Day, the World Bank has released its biennial Poverty and Shared Prosperity Report “Piecing Together the Poverty Puzzle”, which documents the dramatic reduction in extreme poverty achieved from 1990 to 2015. In the span of 25 years, the share of people around the world living in extreme poverty line fell from 36% to 10% (from 1.9 billion to 736 million), despite the global population growing from 5 to 7 billion.

How can the Philippines achieve its ambitious vision of becoming a country free of poverty?

Rong Qian's picture

The Philippines’ economy has been booming since 2010, growing over 6% per year on average. The country is one of the top performers in the East Asia Pacific region, and its impressive economic performance is reflected in the towering skylines, luxurious condos, and huge shopping malls of Makati and Bonifacio Global City, the financial centers of Metro Manila. However, the country still has over 20% of the population living below national and international poverty line. Old jeepneys, the most popular means of transportation, carrying a massive number of commuters to and from expanding swathes of blighted areas portrait perfectly this contrast. My personal observation was quickly confirmed by the graph below.
 

Target: Southeast Asia 4.0

Victoria Kwakwa's picture


Digital lifestyles, cashless societies, app-based businesses, “smart” nations, virtual services – there is a tremendous amount of excitement in Southeast Asia now about the growth of the digital economy.

The region is a hotspot for digital development, and it already leads the world in some indicators, such as Internet and social media use.

Taxing the digital economy in Malaysia: How do we balance growth with sustainability?

Richard Record's picture
 bigstock/szefei
As the digital economy gears up to be the new driver of development in Malaysia, tax policy will need to keep pace with the country’s ambitions towards increased digitalization. Photo: bigstock/szefe



Malaysia wants the digital economy to play a central role in the next chapter of the country’s development—that much is clear. However, what may be less clear is why taxation should be part of the policy mix that will help deliver the country’s digital economy ambitions. This is important because taxes raise the cost of doing business rather than reducing it.