MY government sees drop in trust amongst its citizens, according to new findings

Malaysian government’s trust score has dipped in the Global Trust Index. Its trust index score has decreased three points following its score in 2022, averaging at 62 points.

According to a survey commissioned by Edelman Malaysia, Malaysia faced an overall decline in trust amongst government, businesses, NGOs and media.

Malaysia's core institutions saw a decline in trust, with the government and media falling below the trusted region (above 59 points) into neutral territory, at 54 and 55 points respectively. The government's trust level has plummeted by 8 points to 54, while the media's score dropped by 5 points to 55, in comparison to 2022.

Meanwhile, businesses and NGOs saw a slight drop in trust by 2 and 1 points, respectively, with trust levels currently at 68% and 69%. Despite the decrease, businesses and NGOs are still regarded as the most trusted institutions in Malaysia.

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Drop of Economic Optimism

Malaysians’ top five fears are consistent with those of other countries: slow economic development, worsening prejudice/discrimination, inability to address societal challenges, the end of democracy, and personal financial struggles.

The country’s weakening economic landscape, both in the country and around the world seeing has been cited as a reason for the collapse in economic optimism this year.

Only 35% of Malaysians believe they and their families will be better off in five years, representing a 20 point decline from 2022. 

In response, 96% Malaysians are concerned about losing their jobs due to the nation’s economic decline, with climate change (82%) and the possibility of nuclear war (79%) being persistent worries. These economic views and fears are shared globally, leading to the onus being put on institutions to provide solutions to restore people's economic optimism.

This is surprising as Malaysia's economic outlook was 

A Demand for Businesses and Government Collaboration to Restore Economic Optimism

However, it is important to note that Malaysians are optimistic of the potential for collaboration between the government and businesses, believing that such collaborations are three times more likely to achieve optimal societal results.

To further improve economic optimism, 90% of Malaysians expect CEOs to take a public stand on various issues such as employees’ treatment, discrimination, the wealth gap, climate change, and immigration. Additionally, CEOs are expected to pay fair wages (87%), ensure their home communities are safe and thriving (86%), pay fair corporate taxes (86%), and retrain employees (78%).

Christopher de Cruz, the chief operating officer of Edelman Malaysia added that even though the trust in government has dipped, it is still in the neutral zone.

To build greater trust, businesses and the government should identify their roles and work collaboratively to increase the nation's confidence in the government. To create a brighter vision for the future, the government and businesses must work together to take measures to improve economic optimism and foster greater trust within the nation.

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