26April2017

Malaysia needs proactive, not reactive policies

Malaysia's economy is now in need of a structural change and therefore national policies should not be reactive but proactive, said Datuk Seri Najib Abdul Razak .

The Prime Minister said that for Malaysia to remain competitive, it needed infrastructure and investment in human capital.

"We have taken steps to increase the value chain by targeting services and higher income for the people," he said in his latest posting on his blog, www.najibrazak.com.

Najib was commenting on the consultation session with academicians from the faculty of economics and business of public and private institutions of higher learning in Malaysia that was held at Parliament House this morning.

"All those present were specialists with in-depth knowledge of the economy, and their views can help us move forward as a country in this rapidly developing world.

"A number of thoughts and ideas were expressed, and I took note of all of them. I welcomed critical views on our economy, particularly in terms of services, where it is still of low value," he said.

Najib said among other things, academic experts from Universiti Malaya presented statistics and concerns about an aging society that will have an impact on the supply of labour as well as the health industry, and others.

"Talking about health, experts from UCSI (University College Sedaya International) said that we should look at the rising cost of health care, the implications on Malaysians who are now neglecting their fitness and health, of which one of the indications is that the country's obesity rate has increased.

"At the same time, economists from Utar (Universiti Tunku Abdul Rahman) voiced the importance for us to pay attention to primary and secondary school students, as well as to hone their technical and vocational skills," he said.

He said there were some who also touched on the National Transformation 2050 (TN50) vision, stating that we must begin to imagine how and where we want to see Malaysia in 2050.

"All of the views and ideas submitted were of sheer brilliance, and is the reason why I have launched TN50.

"It will take a long time, perhaps one or two generations before we see our plans beginning to materialise. This is why we must act now," he said.-10/3/2017


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