Summary Malaysia has what it takes to become high-income status nation by 2028, says Rafizi | MDCC mdcc.org.my
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One Line
Malaysia's path to high-income status by 2028 relies on digital connectivity, economic resilience, competitiveness, and significant investment in the digital and green economy.
Slides
Slide Presentation (9 slides)
Key Points
- Malaysia has the potential to become a high-income status nation by 2028.
- The country is digitally connected, economically resilient, and competitive in the region.
- Investing in the digital and green economy is seen as the right path for sustainable growth.
- Tackling the skilled labor shortage and skills mismatch is crucial for Malaysia's economic development.
- Societal and cultural change is necessary to achieve the goal of becoming a high-income nation.
Summaries
25 word summary
Malaysia can achieve high-income status by 2028 with factors such as digital connectivity, economic resilience, and competitiveness. Investment in digital and green economy is crucial.
70 word summary
Malaysia has the potential to become a high-income nation by 2028, according to Economy Minister Mohd Rafizi Ramli. Factors such as digital connectivity, open trading economy, economic resilience, and competitiveness contribute to this potential. Investment in the digital and green economy, addressing skilled labor shortage, and societal and cultural change are essential. The government is committed to supporting the digital ecosystem, transitioning to renewable energy, and continuous high skills training.
152 word summary
Malaysia has the potential to become a high-income nation by 2028, according to Economy Minister Mohd Rafizi Ramli. The country's digital connectivity, open trading economy, economic resilience, and competitiveness are key factors that contribute to this potential. Rafizi emphasized the importance of investing in the digital and green economy, as economic growth and environmental sustainability are complementary goals. To achieve this, Malaysia needs to address the skilled labor shortage and skills mismatch among workers. The government aims to create two million additional high-skilled jobs and focus on continuous high skills training. Rafizi also stressed the importance of societal and cultural change, with long-term investments and effective resource planning across all levels of society. The National Economic Forum 2023 provided a platform for discussing economic challenges and growth opportunities in Malaysia. The government is committed to supporting the digital ecosystem, transitioning to renewable energy, and creating an ecosystem of continuous high skills training.
284 word summary
Malaysia has the potential to become a high-income status nation by 2028, according to Economy Minister Mohd Rafizi Ramli. He highlighted the key characteristics that Malaysia possesses, such as being one of the most digitally connected countries in the region, an open trading economy at a strategic location, and economic resilience and competitiveness. Rafizi emphasized the importance of investing in the digital and green economy, as economic growth and environmental sustainability are no longer opposing goals but complementary ones.
To achieve the goal of becoming a high-income nation, Rafizi acknowledged the need to address the skilled labor shortage and skills mismatch among workers. Currently, only about 30% of workers in Malaysia are considered high-skilled, compared to around 40% in OECD countries. The government aims to create two million additional high-skilled jobs and focus on continuous and sustained high skills training.
Rafizi also stressed the importance of societal and cultural change in achieving the goal. Long-term societal investments and effective resource planning are necessary across all levels of society. The National Economic Forum 2023 provided a platform for participants from various sectors to discuss the challenges facing Malaysia's economic growth.
In conclusion, Malaysia has the potential to become a high-income status nation by 2028. The country's digital connectivity, open trading economy, economic resilience, and competitiveness are key factors that contribute to this potential. Investing in the digital and green economy, addressing the skilled labor shortage, and promoting societal and cultural change are crucial steps towards achieving this goal. The government is committed to supporting the digital ecosystem, transitioning to renewable energy, and creating an ecosystem of continuous high skills training. The National Economic Forum 2023 facilitated discussions on economic challenges and growth opportunities in Malaysia.