KUALA LUMPUR, July 20 — Finance Minister Lim Guan Eng today said the Pakatan Harapan (PH) administration is focusing on creating a business-friendly economy as well as one that cares for the people’s welfare. 

Lim said that the new government is focusing on three main fiscal disciplines to ensure that it can cultivate a healthy trade environment while enriching the masses. 

“First, we are working hard to a much stronger fiscal and financial position. Second, we want to focus on an economy that will prosper the people and finally, create sustainable economic policies,” he said at a special luncheon hosted by the Associated Chinese Chambers of Commerce and industries of Malaysia (ACCCIM) at Mandarin Oriental Hotel here today.

To reach such a prosperous economy, Lim said all major stakeholders, such as those in the private and public sector as well as professionals and the public, must contribute.

During a question-and-answer session at the luncheon, Lim was asked whether the government will take serious steps to combat monopolies in certain sectors of the economy.

“Practices, such as crony capitalism, monopoly and mercenary tactics, are the legacy left to us after 61 years.

“We have talked structural reforms aimed at addressing this problem. However, I ask for patience as we have only been in power for 71 days,” he said.

Lim also said the government is doing all it can to curb the rising cost of business while ensuring that Malaysia remains a conducive environment for businesses to thrive.