Malaysia’s move to break monopolies will encourage innovation, boost investments: observers

[KUALA LUMPUR] Malaysia is reviewing all monopolies that currently exist in the system – including Touch ‘n Go, the sole cashless payment system for highway tolls since 1997 – and analysts say this move will go a long way to boost the country’s competitiveness and attract investments.

Prime Minister Anwar Ibrahim announced last month that all ministries have been tasked to study the rationale of allowing monopolies.

“The principle of a transparent economic development warrants us to make some adjustment and shift from what I consider to be chaotic, obsolete and to cater to vested interests in terms of monopolies,” he said at a press conference on Mar 24.