Pusaka founder Eddin Khoo says residents on the peninsula’s east coast are equipped with culture and skills they can rely on to benefit them financially. (Bernama pic)

PETALING JAYA:

The government should leverage on and monetise Malaysian culture to generate a reliable revenue stream, the founder of cultural organisation Pusaka has suggested.

Eddin Khoo said culture could contribute to the economy, citing the economic models adopted by neighbours Thailand and Indonesia, as well as by India and various African countries.

“Africa is fast becoming one of the most prosperous regions in all of the world because they understand cultural resources and how things can be diversified,” Khoo told FMT.

He said cultural economics could also balance out the country’s development.

“Cultural economics” refers to the branch of economics that studies the relationship of culture to economic outcomes.

According to the statistics department, culture contributed 1.9%, or RM29.4 billion, to Malaysia’s gross domestic product (GDP) in 2019, mainly through the creative industry.

In 2017, then prime minister Najib Razak declared the cultural economy a new asset for Malaysia, saying he believed that the soul of every civilisation lies in its arts and culture.

Khoo said that his study of the country’s east coast region showed that its people are rich with cultures and skills that can benefit them financially and maintain their livelihood.

He said the skills and cultures present on the east coast offered more economic sustainability compared to bringing in heavy industries to the region.

“Not every 17-year-old wants to earn a manager’s income in Kuala Lumpur as some are quite committed to developing their communities.

“If we can develop small models all around the country for this, we would be able to create self-sustaining economic opportunities for young people,” he said.

Separately, Khoo said Putrajaya should engage farmers in the rural areas to make the most out of the agricultural products, since it was part of their cultural economy.

According to Pusaka’s study, tobacco farmers in Kelantan have been deeply affected by the decline of the industry over the years as they were not aware of its other uses, apart from for smoking.

Indonesia, whose tobacco industry is “100 times bigger than ours”, has started to diversify the sector, Khoo said.

“Tobacco today is used for perfumery and medical purposes,” he said.

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Monetise Malaysian culture to generate revenue, says Pusaka founder

Eddin Khoo says the country should emulate the likes of Thailand, Indonesia, India and several African nations when it comes to leveraging on culture.