The forum, on the theme “A Second Economic Takeoff: Malaysia’s Path to the New Economy”, encouraged youth leadership and participation in national administration and governance.
It featured a series of panel discussions with notable figures, with prominent speakers including Dewan Rakyat Speaker Johari Abdul, Petronas chief sustainability officer Charlotte Wolff-Bye, CIMB bank country head Gurdip Singh Sidhu, and Sarawak Energy Bhd general manager Irwan Aman.
A notable addition this year was the introduction of policy resolutions. These resolutions address critical areas, including enhancing education, supporting entrepreneurship, increasing digital inclusion, and prioritising sustainability, with the aim of advancing them to the ministerial level.
Need for education overhaul
Chandran Nair, CEO and founder of the Global Institute For Tomorrow, called for an overhaul of education to give children the best foundation.
“The ecosystem for talent in Malaysia begins with primary schools. Teachers deserve ministerial salaries, while ministers’ salaries could be lowered to reflect the importance of foundational education,” he said.
He also said there was a need for people who can “fix the mediocrity and lack of competence”, as well as those who could put an end to the corruption that is embedded in our institutions.
Nair also reminded attendees that education should serve society holistically, not just industry needs.
“To serve society, education systems need to instil values. Young people must be encouraged to speak up, as values come before teaching skills like AI programming.”
Government initiatives
Digital minister Gobind Singh Deo says the government must empower and incentivise small businesses to embrace technology and digitalisation.
He said government support in this matter is especially important, considering that there are over one million small businesses, accounting for 96.9% of the business sector in Malaysia in 2023.
Gobind said it is also crucial for the government and industry to engage with small businesses to raise awareness about the advantages of adopting technology and the risk of falling behind if they fail to adapt.
Sustainable future
Sarawak’s deputy energy and environmental sustainability minister, Dr Hazland Abang Hipni, said the state plans to generate new revenue through its efforts to mitigate climate change by capitalising and monetising natural resources in the state.
He highlighted Sarawak premier Abang Johari Openg’s commitment to a sustainable future, facilitated by the state’s political stability.
“Leadership is very important. We may have all the resources but if the leadership is not in line with the strategies, it will not be successful.”
Human-centric approach
Timo Goosmann, deputy head of mission of the EU Delegation to Malaysia, urged a human-centric approach in navigating the digital economy, warning against advancing into “uncharted territory” without clear objectives.
No one should enter uncharted territory blindly and should first decide what they want to achieve in this new space. Neither should one venture alone, he added, saying there was a need to “bring along colleagues, friends, people you can rely on.”
He also said it is important to address the digital divide between those benefiting from AI and those being left behind as the gap was tearing society and political systems apart.
He advocated private sector involvement in upskilling and reskilling efforts as a critical step to bridge this gap.