Government to take facilitator role
By plugging gaps in the business ecosystem and taking a forward-looking approach to regulations, the government can nurture a more flexible, nimble economy, says the CFE report.
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THE government should use its power as a regulator and procurer to facilitate risk-taking and innovation, rather than to anoint winners, observers say in agreement with the recommendations of the Committee on the Future Economy (CFE).
In that evolved role, the government would be a facilitator that can at times plug gaps in the economy, and thus speed up development and growth, says the committee.
The CFE report says: "The government should consider using lead demand more systematically to support the development of promising industries, especially where this coincides with the country's strategic needs.
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