· Malaysia’s trust in core institutions rises, placing the country in trusted territory.

· Businesses emerge as the most trusted institution, with NGOs and government following closely, while the media falls behind.

· Malaysians seek collaboration between businesses and government to address concerns around innovation management and societal progress.


KUALA LUMPUR, June 27 (Bernama) -- Edelman Malaysia unveils the 2024 Edelman Trust Barometer findings, revealing Malaysia's ascent into the top echelons of global trust rankings despite ongoing economic challenges. The report, conducted from November 3rd to 22nd, 2023, 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.

Malaysians' Trust in Institutions

Malaysia has experienced a significant trust renaissance, with an overall Trust Index Score of 68—a notable 6-point increase from 2023. This places Malaysia among the top 10 most trusting nations out of the 28 surveyed globally. 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; the government has seen 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 a growing optimism in our ability to navigate economic challenges and foster inclusive growth."

Economic Worries Evident

Malaysians ' top concerns are slow economic growth, societal divisions, and misinformation. Additionally, 97% of employed Malaysians worry about job loss, with climate change (85% of the general population) and the increase of information warfare (73%) adding to their anxieties.

Trust in Innovation Management

The integration of artificial intelligence (AI) into society globally has reshaped perceptions and set the stage for a new era of innovation. The 2024 Barometer highlights that 63% of Malaysians feel government regulators lack the understanding to govern emerging technologies effectively. 33% believe innovation needs to be better managed, while 59% reject genetically modified foods.

"As AI continues to transform industries and daily lives, there is a critical need for businesses and governments to collaborate effectively," noted de Cruz. "This partnership is essential to harnessing the benefits of new technologies while addressing ethical considerations and ensuring accessibility across all segments of society."
 
Rising Call for Collaborative Action

Malaysians call for more vital collaboration between businesses and the government to address pressing societal issues. Public support for businesses partnering with the government in innovation has surged 19 percent 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 adoption of technological advancement."

Businesses As Agents of Change

Businesses are seen as pivotal in driving societal change as trusted institutions. Malaysians expect CEOs to stand on critical issues, including 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.

“Business is the most trusted institution in the Edelman Trust Barometer, seen as an innovation machine. However, businesses must prioritise implementing and accepting change as much as it does R&D. This requires more transparency in research, ensuring understanding among ordinary people, not just elites. Businesses cannot achieve this alone; good regulation by authorities is essential for accepting innovation.

“Scientists and experts should lead discussions but must include input from all societal levels. Everyone must feel empowered and in control of their future. Innovation should be a collaborative effort where concerns are heard, questions are answered, and everyone has a stake. We need to redefine what it means to provide access." said de Cruz.

The 2024 Edelman Malaysia Trust Barometer was launched yesterday 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 2024 Edelman Trust Barometer underscores Malaysia's complex trust balance and need for robust governance frameworks. As technological disruption accelerates, fostering trust through inclusive policies and cross-sector cooperation will prove vital for national advancement.

About Edelman Trust Barometer

The Edelman Trust Barometer is the firm's annual trust and credibility survey, a cornerstone of its thought leadership program. It examines trust and credibility across industries, geographies, and demographics. The 2024 Edelman Trust Barometer surveyed over 32,000 respondents across 28 markets.

SOURCE: Edelman Public Relations Worldwide Sdn Bhd​

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Kamles Kumar
Tel: 012-4417564
Email: kamles.kumar@edelman.com

Name: Farha Shafiee
Tel: 011-33006685
Email: farha.shafiee@edelman.com 

--BERNAMA