Malaysia Rises to Seventh on the Edelman Trust Index 2024
Malaysia has achieved an impressive seventh place on the Trust Index, according to the 2024 Edelman Trust Barometer, which surveyed 32,000 people across 28 countries. This marks a significant increase in public trust, rising from 62% in 2023 to 68% in 2024.
Trust Index Rankings and Regional Comparison
Malaysia’s score places it between its neighboring countries, with Thailand ranked sixth at 70% and Singapore eighth at 67%. The survey, conducted from November 3 to 22 last year, included responses from over 1,000 Malaysians, offering a comprehensive snapshot of public sentiment on trust, innovation, and governance.
Growing Confidence Under New Governance
The surge in trust is attributed to the stability and democratic governance under the new unity government led by Prime Minister Datuk Seri Anwar Ibrahim. This government has seen a 13-point increase in public trust since last year, reflecting growing confidence in Malaysia’s direction.
Chris de Cruz, Edelman Malaysia’s Chief Operating Officer, noted a positive shift in public perception towards governance and institutional frameworks. “This increase signals a growing optimism in our ability to navigate economic challenges and foster inclusive growth,” said de Cruz.
Trust in Institutions
According to the survey, Malaysians trust businesses the most, at 74%, followed by NGOs, the government, and the media. This highlights the pivotal role businesses play in driving societal change as trusted institutions. Malaysians expect CEOs to take stands on critical issues such as fair wages, climate change, and economic inequality. “Businesses that align with public values and actively address societal concerns are more likely to gain public support,” de Cruz added.
Economic and Social Concerns
Despite the positive trends, the report also highlighted significant economic worries. Malaysians’ top concerns include slow economic growth, societal divisions, and misinformation. Additionally, 97% of employed Malaysians worry about job loss, with 85% of the general population concerned about climate change and 73% anxious about the increase of information warfare.
Governance and Innovation
The survey revealed that 63% of Malaysians feel government regulators lack the understanding to govern emerging technologies effectively, while 33% believe innovation needs better management. These findings suggest a need for improved regulatory frameworks to keep pace with technological advancements and societal expectations.
Launch of the Edelman Malaysia Trust Barometer 2024
The 2024 Edelman Malaysia Trust Barometer was launched on June 26 in Kuala Lumpur through a panel discussion featuring prominent leaders and experts. This event highlighted Malaysia’s achievements and ongoing challenges in building public trust and driving economic growth.
Malaysia’s Global Standing
Ahead of Malaysia in the Trust Index are countries such as China, India, UAE, Indonesia, and Saudi Arabia. This ranking underscores Malaysia’s significant progress in fostering public confidence and highlights the country’s potential for continued growth and stability.
Conclusion
Malaysia’s rise to seventh place on the Edelman Trust Index 2024 reflects a growing public confidence in the nation’s governance and institutions. This positive trend is essential for navigating economic challenges and fostering inclusive growth. As businesses and government continue to align with public values and address societal concerns, Malaysia is poised to enhance its global standing and ensure sustainable development.
