November 1, 2022
|TIME||DURATION||AGENDA & SESSION|
With talk of a looming global recession in 2023, what is the outlook for the Malaysian economy
To date, the Malaysian economy has shown encouraging signs of recovery, with increased domestic demand, higher output, improved exports, and a stronger FDI inflow. However, global factors such as a prolonged Russia-Ukraine war, rising food and energy prices, a depressed Chinese economy, and monetary tightening in the US could hamper our growth prospects. Against this uncertain scenario, which sectors are most likely to thrive and how should business leaders steer their companies?
In this plenary session, speakers will discuss present and future business and economic turning points for Malaysia and elaborate on the risk factors and opportunities.
More than the Butterfly Effect.
Since the age of empires, people and goods have moved beyond national boundaries via trade and travel routes, and money and capital have followed. Today, the links between nations have multiplied in quantity and complexity, and businesses look far beyond their shores for growth and opportunities.
A war in one part of the world has greater impact on the rest of the planet than ever before. The Russia-Ukraine war is an example. As Russia presses on with its invasion of Ukraine, the world has seen energy prices and food costs escalate along with the loss of lives.
What are the likely consequences for the Malaysian economy as a result of this prolonged conflict, and what are the other conflict zones ahead that the business community should pay heed to?"
This keynote session delves into current and potential global conflicts and examines their impact on Malaysia.
CONCURRENT SESSION A
The pandemic has underscored one theme consistently for business: the necessity of technology.
Whether it is to digitalise, automate, or migrate (online), businesses have been firmly reminded that incorporating tech is no longer an option but a must. However, for many businesses, especially MSMEs, costs are high and the learning curve is steep, whereas for other companies, there are tasks where manpower is still required. In the age of metaverses and robotics, how best can businesses leverage on technology to innovate processes, improve productivity, and create higher-value goods and services?
The panellists of this session will discuss the positive impact of technology on business growth, and the present and emerging tech out there that can take businesses to the next level of success.
CONCURRENT SESSION B
Is Malaysia on the losing end of the battle for brains and brawn?
"It's estimated that there are 2 million Malaysians who have emigrated abroad with the annual number said to be increasing in recent years. A quarter of Malaysian émigrés are skilled professionals, including doctors, engineers, and scientists. Meanwhile, the race to accelerate the country's economic growth requires highly-skilled human resources, and industries lament that there is not enough talent to go around. There is a crisis as well in terms of semi-skilled labour due to an insufficient supply of foreign labour and local TVET* graduates. Between the brain drain and brawn shortage, the human resource landscape seems increasingly bleak. Is this so, and if true, what can industry, academia, and government do to address this chasm between supply and demand?
*Technical Vocational Education and Training
This session will bring to the fore issues related to talent and manpower in Malaysia, with a focus on potential remedies and resolutions.
CONCURRENT SESSION C
Malaysia aims to be a carbon-neutral nation by 2050, with an Renewable Energy (RE) roadmap that hinges on four sources of energy: solar, biomass, biogas, and hydro.
The goal is for 40% of installed capacity to be from renewable sources by 2035. While the future looks bright for the RE sector, achievements have not been stellar; based on its latest nationally determined contributions (NDC), Malaysia’s 2030 emissions are still expected to increase from 2018 levels and exceed Southeast Asia (SEA) 2030 averages. While there is a strong push by government and companies for green initiatives such as the SBTI (Science Based Targets initiative) and green financing, the sector faces hurdles in terms of costs, technology, awareness, and adoption.
This panel discusses the future of renewable energy in Malaysia by delving into its present state, outlining current challenges, and offering recommendations for a cleaner and greener Malaysia.
CONCURRENT SESSION D
The Covid-19 pandemic and its lockdowns changed how the world produced, distributed, and consumed goods and services.
With the pandemic over, the industry faces new challenges: international conflicts leading to reduced port facilities as well as delivery bottlenecks, and acute manpower shortages. In addition to these challenges, Malaysia’s logistics sector faces hurdles in the form of transport costs, clearing efficiency, and timeliness of shipments*. Given that logistics is expected to contribute 6.5% to the national GDP by the year 2030, how can the logistics industry in Malaysia ramp up productivity to become a leading international logistics hub?
This panel will discuss how the pandemic has changed logistics in Malaysia, as well as the innovations and recent developments within the sector as it redoubles efforts to become one of the world’s best logistics hubs.
*World Bank Logistics Performance Index (LPI) 2018
CONCURRENT SESSION E
If there is a consistent thread running through post-pandemic 2022, it is "higher prices".
With Malaysia's inflation rate hitting 4.4% in June 2022, a 14-month high, the cost of living has become a top concern for many Malaysians. The rising prices is not only due to supply issues caused by the Russia-Ukraine war and the lockdowns in China but also to a weak Ringgit which has made imports more expensive.
To assist B40 households cope with rising prices, the government has had to increase subsidies. This year, the Malaysian subsidy bill (including oil and gas) is a whopping RM77 billion. To cool inflation, our central bank has increased interest rates but this adds to the debt burdens of Malaysian households at a time when many are recovering from the lockdowns.
When are the inflationary pressures expected to end in Malaysia, and what will be the resulting scenario?
This panel will discuss the wider impact of inflation on Malaysian consumers, alternative policy responses, and the path forward.
CONCURRENT SESSION F
In think tanks and mamak stalls, the Malaysian government debt (RM1 trillion as of June 2022) and the government’s economic initiatives almost always ignite heated discussions and debates.
This panel will open up the discussion on these issues, focusing on the state our national finances as well as 12th Malaysia Plan (2021-2025) and the 2023 National Budget. What is the true standing of our national finances and what are the impact of the government’s economic policies. Are they addressing current socio-economic challenges as well as future aspirations?
What Does the Future Hold for Malaysia?
High-Tea & End of Programme