Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid, for one, finds it encouraging that the CMP3 addresses the financing needs of companies across various growth cycles.
“Entrepreneurship is a key catalyst of sustainable economic growth, as it promotes the creation of high-quality jobs that can absorb local talent. “This is especially important, as the lower-for-longer interest rate environment is expected to persist in the future. As such, the CMP3 would create a win-win platform for both businesses and investors in a healthy ecosystem,” he explains.Coming from the robo-advisory sector, StashAway country manager for Malaysia, Wong Wai Ken, welcomes the CMP3 as it recognises the potential of digital investment managers in providing better investment advice and access to global markets.
It is noted that CMP3 comes with a shorter timeframe compared with the 10-year period for both CMP1 and CMP2 . The reason is to give policymakers enough room to adjust according to the fast-changing and developing global financial system. “Overall, CMP3 appears relevant to what the country needs. But as always, it is all about implementation, and we will need to see what the subsequent policies or changes that will be rolled out under the CMP3 over the next five years are,” he adds.
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