KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim's restructuring of the Cabinet lineup is regarded positively by economists as they anticipate considerable advantages for both the nation and economy.
Malaysia University of Science and Technology economist Dr Geoffrey Williams said overall, it is a good lineup which will reinspire confidence and reinvigorate government agenda after a year of solid progress.
"Putting (Datuk Seri) Johari Ghani into the Cabinet will add very important experience as will Gobind Singh Deo in a very important new ministry focusing on digital infrastructure and policy.
"This is essential if Malaysia is to capitalise on opportunities in the Digital Economy agenda," he told Business Times.
Williams said the appointment of Datuk Seri Khaled Nordin and Datuk Seri Amir Hamzah Azizan is an excellent choice of a very experienced and respected figure to oversee economic and investment policy.
He added that both the personalities will consolidate investor confidence and hopefully will focus on key strategic areas such as pension reform and fiscal governance.
"It is also good that Rafizi Ramli stays at the Economy Ministry because he is the best person to roll-out the Central Database Hub (Padu) database which will be essential for social protection reforms next year," he noted.
Williams said overall, the reshuffle will significantly boost investor confidence.
This is particularly true for Amir Hamzah, a highly respected leader in the investment community who heads the largest investment fund in the country. Importantly, his appointment is not political but professional.
Williams also emphasised that this would confirm investor confidence and also help the government focus on key strategic priorities such as subsidy rationalisation, pension reform, fiscal policy stability and investment from domestic and foreign investors.
Singapore Institute of International Affairs senior fellow Dr Oh Ei Sun opined that bringing back Johari, Gobind Singh as well as Datuk Dr Dzulkefly Ahmad would be highly desirable.
He said these individuals are much desired by those who are reform-minded because, during their previous tenures as ministers, they were widely considered capable.
"With them, hopefully, this Cabinet will indeed become a performing one," he said.
Meanwhile, Oh added that Amir Hamzah's appointment would be considered a technocratic one, as he has vast experience in running government-linked companies (GLCs).
"So, hopefully, at least in the finance ministry, we will have somebody who knows about finance. Anwar also knows about finance; it's just that he's the Prime Minister and he's busy with other matters as well.
"So, with a technical and technocratic background assisting him, hopefully, all these rollouts from the finance ministry will be smoother," he said.
Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan agreed that the overall lineup looks promising.
He believes Johari's appointment will keep him busy overseeing the new ministry, particularly in handling commodities such as palm oil within European Union countries.
Azmi added that Johari's expertise is crucial as he can effectively articulate future developments in these areas.
"It's fitting for him to helm Plantation and Commodities Ministry, even though many had anticipated his assignment to the Finance Ministry. For Gobind Singh, it seems appropriate that the digital issue has its own specific ministry, headed by him.
Under the Madani concept of the economy, Malaysia is moving towards becoming a digital economy. In this direction, it's not fair to have just one minister handling both the digital and communication portfolios. These are two specific issues that need attention and expertise," he said.
As for Khaled, Azmi said he is synonymous with the Higher Education Ministry and his move to the defence portfolio will be something new.
Azmi said perhaps Khaled was appointed because Malaysia is facing issues in terms of defence, and the country needs someone with steady hands and experience in politics to handle defense and procurement issues.
"Meanwhile, Amir Hamzah's appointment seems obvious. Between Johari and Amir Hamzah, the Prime Minister may see Amir Hamzah as a technocrat, non-politically affiliated. I would say we will see more of Amir Hamzah as a Finance Minister II compared to Finance Minister I, which is Anwar Ibrahim," he noted.