Malaysia not realising full potential, says Azmin

Updated 6 years ago · Published on 20 Oct 2019 4:40PM · 4 Comments

Economic Affairs Minister Mohamed Azmin Ali says the Shared Prosperity Vision aims to ensure equal outcomes for all. – The Malaysian Insight file pic, October 20, 2019.

MALAYSIA is not realising its full economic growth potential by not moving up the value chain due to its limited use of technology, said Economic Affairs Minister Mohamed Azmin Ali.

He said as an example, skilled manpower comprised only 27.2% of workers last year, noting that the Shared Prosperity Vision 2030 (WKB2030) formulated by the government is aimed at giving a new injection to the economy to ensure the country’s development is more sustainable, inclusive and competitive.

“Restructuring of the nation’s economy will focus on the use of high technology as well as innovation through research and development.

“This effort will drive the transition of the nation’s economy to make it more progressive, based on knowledge and high values and with the participation of all levels of society,” he said when launching national-level celebrations of World Statistics Day and the 70th anniversary of the Department of Statistics Malaysia in Muar today.

Also present were Youth and Sports Minister Syed Saddiq Syed Abdul Rahman, Johor Menteri Besar Dr Sahruddin Jamal, and Chief Statistician Malaysia Dr Mohd Uzir Mahidin.

Azmin said the main principle of WKB2030, as stressed by Prime Minister Dr Mahathir Mohamad, is ensuring equitability of outcomes as an economic strategy.

“Collecting, compiling and analysing data and statistics to facilitate the formulation and monitoring of policies should be conducted in a scientific, creative and innovative manner,” he said.

Later, he said artificial intelligence and big data analytics, part of the Fourth Industrial Revolution, will have a significant impact on the changing global landscape, facilitating the prediction of consumer trends and the people’s needs in the effort to formulate effective economic policies. – AFP, October 20, 2019.

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Comments

  • I dunno, Azmin...

    I do believe many Malaysians do not like to be played behind their back ...

    Posted 6 years ago by Rock Hensem · Reply

  • "Malaysia not realising full potential" ... I do agree with him on this statement. The "cure" is something else though.

    Posted 6 years ago by Yoon Kok · Reply

  • As long as the top leadership of this country hobnobs with kleptocrats and Talibans, the potential of this country will not be realized.

    Posted 6 years ago by Leong Hong · Reply

  • Front can, back also can! #fullpotential

    Posted 6 years ago by Alfie Yap · Reply