Edelman Malaysia has unveiled the findings of its 2024 Trust Barometer, highlighting Malaysia’s remarkable ascent into the top echelons of global trust rankings despite ongoing economic challenges. Conducted from November 3rd to 22nd, 2023, the report surveyed over 32,000 respondents across 28 countries, including more than 1,000 from Malaysia, providing a robust snapshot of public sentiment on trust, innovation, and governance.
Malaysia’s Trust Renaissance
Malaysia has experienced a significant trust renaissance, achieving an overall Trust Index Score of 68—a notable 6-point increase from 2023. This places Malaysia among the top 10 most trusting nations globally out of the 28 surveyed. The surge in trust reflects growing confidence in the stability and democratic governance under the new unity government led by Prime Minister Dato Seri Anwar Ibrahim, with a remarkable 13-point increase in public trust since last year.
“Malaysia’s rise in trust underscores a positive shift in public perception towards our governance and institutional frameworks,” commented Chris de Cruz, COO of Edelman Malaysia. “This increase signals growing optimism in our ability to navigate economic challenges and foster inclusive growth.”
Economic Concerns and Public Sentiment
Despite rising trust, economic worries prevail among Malaysians, with top concerns including slow economic growth, societal divisions, and misinformation. The survey highlights significant anxieties, including 97% of employed Malaysians worrying about job loss, 85% concerned about climate change, and 73% troubled by the rise of information warfare.
Trust in Innovation Management
The integration of artificial intelligence (AI) into society has reshaped perceptions globally. In Malaysia, 63% of respondents feel government regulators lack understanding to effectively govern emerging technologies, while 33% believe innovation requires better management. Additionally, 59% reject genetically modified foods, reflecting nuanced concerns over technological advancement.
“As AI transforms industries and daily lives, effective collaboration between businesses and governments is crucial,” noted de Cruz. “This partnership is essential to harnessing the benefits of new technologies while addressing ethical considerations and ensuring accessibility across society.”
Call for Collaborative Action
There is a rising call among Malaysians for more robust collaboration between businesses and the government to tackle societal issues. Public support for business-government partnerships in innovation has surged 19% since 2015.
“Restoring trust hinges on transparent engagement between businesses, government, and the public,” added de Cruz. “Open dialogue and aligning innovation with societal values are paramount for responsible technological adoption.”
Businesses as Agents of Change
Businesses are viewed as pivotal 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. Aligning with public values and actively addressing societal concerns are seen as crucial for gaining public support.
The 2024 Edelman Malaysia Trust Barometer was launched in Kuala Lumpur through a panel discussion featuring prominent leaders and experts, including IDEAS’ Chief Executive Officer Dr. Tricia Yeoh, Microsoft’s Director of Legal, Corporate & Government Affairs for ASEAN and New Markets Dr. Jasmine Begum, and MBSB Chief People Officer Farid Basir.
The report underscores Malaysia’s complex trust dynamics and emphasizes the need for robust governance frameworks amid accelerating technological disruption. Fostering trust through inclusive policies and cross-sector cooperation will be essential for Malaysia’s continued advancement on the global stage.
