Malaysia Economic Direction – What to Expect Next

In conjunction with 12MP, UOBKHWA have invited two prominent guest speakers to discuss Malaysia Economic Direction – What to Expect Next?

Speaker

YB Dato’ Sri Mustapa Mohamed

Minister in the Prime Minister’s Department (Economy)

YBHG. Prof Dato Dr Madeline Berma

Honorary Professor, University Malaysia Sarawak; Fellow of Academy of Sciences Malaysia (Area Expertise: Development Economics); Members of the Commission, Malaysia Competition Commission; Commissioner, Human Rights Commission Malaysia.

Executive Summary

COVID-19 has governments at all levels operating in a context of radical uncertainty. The highly heterogeneous regional and local impacts of the COVID-19 crisis have significant implications for crisis management and policy responses. In the early phases of lockdown, a wide-reaching economic stimulus package was implemented to safeguard the well-being of households, preserve jobs and buffer businesses. After operating under these conditions for one and half years, the Malaysian economy is now on the road to recovery, although risks remain from the possibility of a resurgence of the pandemic.

Policy support for both companies and individuals should continue until the recovery is well established. The 12th Malaysia Plan is an important policy instrument guiding the country’s development for the next five years. The Covid-19 pandemic revealed several salient characteristics of the Malaysian economy: a digital divide in the education sector, the readiness of SMEs to digitalise, and lack of social protection in the informal sector. Our panellists will address these issues and discuss how the 12th Malaysia Plan will help the nation achieve prosperity, inclusiveness, and sustainability (aligned with the 2030 Agenda for Sustainable Development (SDGs)) based on the spirit of ‘Keluarga Malaysia’.

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