KUALA LUMPUR: Amid hyper criticisms that some of the Cabinet appointments are regressive and "scraping the barrel", some economists feel that overall, the line-up comprise those who are qualified to help achieve the unity government's agenda.
Putra Business School associate professor Dr Ahmed Razman Abdul Latif said Prime Minister Datuk Seri Anwar Ibrahim deserved to also be Finance Minister.
Anwar had held the post in the 1990s for more than seven years and was recognised as the best finance minister in Asia, he added.
Ahmed Razman said Anwar, at the Finance Ministry, would have a positive impact and increase the confidence of international investors, leading to increased foreign direct investment (FDI).
Some quarters including Bersih had questioned Anwar's move to also hold the Finance Minister post.
They described it as regressive" and felt that the move would lead to lack of "check and balance" function in the government.
The appointment of Tengku Datuk Seri Zafrul Abdul Aziz, meanwhile, "comform with his background in the corporate field which could be useful in attracting foreign investment into Malaysia," Ahmed Razman told the New Straits Times.
Tengku Zafrul's return to the Cabinet, albeit now as International Trade and Industry Minister, has drawn flak given the perceived underperformance during his time as finance minister and his loss in the 15th general election.
Former international trade and industry minister Tan Sri Rafidah Aziz was among those who were vocal about Tengku Zafrul's return.
Rafidah suggested that Anwar was scraping the bottom of the barrel by appointing someone rejected by voters.
Universiti Putra Malaysia associate professor Dr Mohd Izani Mohd Zain said Tengku Zafrul, who was sworn in as a senator for the second time to facilitate his ministerial appointment, could offer continuity as well as insight into the inner workings of the system.
Tengku Zafrul, he noted, had the added experience of managing the country's finances during the Covid-19 pandemic.
"Anwar's government may want to carry on with the existing policies which Tengku Zafrul is familiar with. Anwar is in need of experienced ministers who do not have to start from zero and can hit the ground running," Mohd Izani said.
Rafizi's appointment, meanwhile, does not appear to attract much criticisms and is largely welcomed.
"The appointment of Rafizi Ramli as Economic Affairs Minister is timely because he has a professional background and is an expert in the application of data and technology, a skill that is important nowadays in understanding the economics of a country," Ahmed Razman said.
Socio-Economic Research Centre (SERC) executive director Lee Heng Guie said Rafizi would assist Anwar in the economic planning and ensure the effective implementation of projects and programmes in the 12the Malaysia Plan (12MP).
Lee said Rafizi had the economic and financial knowledge as well as competencies to work closely with the Finance Ministry to plan value-for-money projects in optimising the country's limited resources.
"He brings along his experiences in running Invoke, using big data analytics to have current data and feel of the economic and market pulse and provide solutions to address the economic issues and challenges.
"Rafizi's immediate priorities are to improve communication flows to the public and investors in rebuilding public trust in government's policies - data transparency and communication are crucial. Regular engagement with the private sector to receive their feedback on the ground," he said.
Overall, Lee said it was a lean Cabinet with experienced and young ministers to lead Malaysia forward in the post-pandemic era that comes with daunting challenges and complexities.
"With the backing of committed civil servants, the Cabinet is expected to deliver on expectations and implement the manifesto's offerings with better economic dividends and sustainable outcomes.
"Whatever measures and programmes implemented must meet the principles of good governance, transparency and financially sustainable - populism versus sustainability."
Lee added that the immediate challenge was to navigate the economic recovery through the global recession risk in 2023, addressing inflation and higher cost of living, increasing business costs and reviving both domestic and foreign investments.
Meanwhile, Lee said the appointment of Tan Sri Hassan Merican to lead a team of experts to advice Anwar financially would strengthen the new administration in managing the government's finances and overall economic direction.
"Anwar and his team need to convince the Malaysians and investors that it is an inclusive unity government in ensuring a stable and good governance political system and economic ecosystem.
"Provide strong assurance to investors that the new government will implement progressive, moderate and credible policies to uplift economic growth, increase national income and boost investment," he added.
Source: https://www.nst.com.my/business/2022/12/857762/pm-anwar-deserves-mof-post-rafizis-appointment-timely-tengku-zafrul-useful