He said corruption might lead to lower domestic and foreign direct investments, and proliferation of an underground economy, which did not bode well for any economy.
However, he pointed out that Malaysia did not face such a problem since it had successfully lowered the poverty rate from 49.3 percent in 1970 to 0.6 percent in 2014.
"This does not mean corruption does not exist in Malaysia. It does exist and in fact, we know it is a problem and it must be tackled," he said in his closing remarks at the 16th International Anti-Corruption Conference (IACC) here Friday.
At the same time, Abdul Wahid also shared Malaysia's strong economic fundamentals and prospects, which recorded growth of 5.3 percent in the first half of this year, continuing the growth of 6.0 percent recorded last year.
Abdul Wahid said the reason corruption existed was because some people who committed crimes, thought they could get away with it.
"However, this is not true as the Malaysian Anti-Corruption Commission (MACC) practices no fear or favour in this matter," he said, adding that the MACC could call anyone for investigation without having any barrier or instructions from anyone to continue to enforce the law fairly and consistently.
Abdul Wahid's speech at the closing of the 16th IACC
