As our economies emerge from the COVID-19 pandemic, the policy focus is shifting to questions of longterm transformation: how can we accelerate digitalisation and the climate transition?
At the same time, the context is challenging. Supply chain disruptions and rising energy prices are a concern. Some policies have been effective in supporting economic recovery throughout some parts of the world, but some countries have been hit even harder than others by the pandemic, and not all are recovering at the same pace. Progress on digitalisation and the energy transition has also been far from uniform.
In Malaysia, even with pandemicaccelerated digital adoption, it will never reduce the rural-urban income gap without a proper digital backbone infrastructure nationwide. Our digital ecosystem helped prevent the economy from collapsing during the various lockdown iterations. Now we must endeavour to digitally enable each and every Malaysian so they, too, can participate in the nation’s wealth-building initiatives. We must also take the opportunity to address underlying structural issues in the medium and longer term. This will help Malaysia to future-proof itself to remain competitive.
This year’s conference is about how we can speed-up the digital and climate transitions, whilst recognising and mitigating these asymmetries. It will bring together the perspectives of policymakers, academics, leaders in business and finance, as well as economists from different private and public sector institutions.
By participating in the summit, you’ll be able to know not only about the information on a particular industry but most of the industries. This helps the expansion of businesses all over the world and it opens a new vista of business to all the businessmen. A successful businessperson always stays connected with the business world. Being connected to the business world is no less important than providing quality service and products to the customers.
As told by Richard Branson, “Business opportunities are like buses, there’s always another one coming.” – So, you never know when and how you will miss the opportunity. The Malaysian Economic Summit is the place where you need to play by rules, but you must be ferocious to snatch the opportunity.
“Accelerating Structural Transformation to Drive Economic Growth – The Case for Malaysia” by YB Dato' Indera Mohd Shahar bin Abdullah Deputy Minister of Finance I, Malaysia
Malaysia has tumbled five rungs in a ranking of most competitive world economies in 2020 weighed down by a decline in its scores on government efficiency, business efficiency and infrastructure. The country is now ranked 27th out of 63 countries in the World Competitiveness Ranking 2020 report by the Institute for Management Development (IMD), which analysed global economies and ability to generate prosperity. In 2019, the report ranked Malaysia the 22nd most competitive economy in the world, the same spot it held in 2018. Malaysia is also losing its competitive edge in a fundamental way and will impact sustainability of growth. This session will also discuss issues of governance, judicial reviews, productivity, efficiency, transparency, and the role of MyDigital Initiative on the transformation of the economy. a) The global pandemic has exposed the underlying structural issues that must be addressed. What are these institutional and structural weaknesses that needs to be resolved? b) How does these weaknesses impact the country’s competitiveness and productivity growth? c) What are the productivity targets expected under the 12th Malaysia Plan (2021–2025)? d) What are the challenges and issues expected in raising productivity growth? e) How will the Malaysia Digital Economy Blueprint contribute to the addressing the structural bottlenecks of the economy?
Get a better handle on how the economy will impact your business in 2022 and beyond. This high-level economic overview is the best way to kick off the Summit, offering analysis of long-term trends and current conditions, as well as an economic outlook from expert economists. This is a vital planning session that will help you prepare for what the upcoming year(s) will bring. a) What lies ahead for economic recovery in 2022? b) And where are these opportunities? c) Rising Inflation – how will interest rates be impacted? d) Can and will consumer spending keep up with rising prices? e) How will business move forward safely?
As a result of Covid-19, many more businesses are looking to diversify – either to seize new opportunities or simply to survive in very difficult trading conditions. Diversifying can involve radical steps such as acquiring a new business, moving, or expanding into a new service or product offering. This session will focus on ways which can help small businesses by taking a fresh look at what they do and using it to exploit new opportunities or build greater resilience in the event of further pandemic disruption. It will also discuss SME financing.
• Malaysia must remain export oriented, looking at the current strategies in 12th plan, what needs to change. • How will these policies impact on Malaysian’s exported-oriented economy post pandemic? • Malaysia’s lower rankings is because of emerging macro-economic imbalances and breaking down of governance and rule of law--what are adjustments needed to address downside risks of consequent weakening of economic resilience. • How can companies compete in these uncertain times? • What are the key lessons for management and operation in such a challenging world? • The governance agenda or rather its absence will threaten long-term sustainable growth. How will it impact investments and long-term growth?