Invest Malaysia 2021: Economic Reform For Growth

Bursa Malaysia Berhad and Maybank held the 19th instalment of Invest Malaysia Kuala Lumpur 2021 with the theme “Rebuilding A Sustainable Economy”. This years focus was on economic reform and exploring the Government’s various strategic roadmaps toward building a more resilient, future-proof Malaysia.

Among the topics covered were the recently launched 12th Malaysia Plan, the GLICs Mandate Recharge, and trade and investment. Through these capital market conversations, regulators, analysts, policy and decision makers, industry professionals as well as investors were able to gain greater appreciation and understanding of the holistic reform plans aimed at generating growth opportunities in the economy and capital market in Malaysia.

Prime Minister Dato’ Ismail Sabri Yaakob who officiated the event, said that Malaysia is ready to get back on track as a regional and international investment hub. In this regard, the Prime Minister shared that the government has identified key strategies to escalate economic recovery and enhance the country’s competitive landscape for
investors. He also added that the country is aiming to be carbon neutral by as early as 2050. On this front, Bursa Malaysia is working closely with government ministries to launch a voluntary carbon market to get more companies to adopt the initiative.

In a special address titled ‘Investing in Resilience’, Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade & Industry Malaysia spoke about the progress made by the various industries and SMEs, including MITI’s efforts in strengthening trade and investment policies, and how MITI is actively participating in regional and global agreements to boost trade. The Senior Minister also shared positive growth on capital investment as well as the need for technological advancements, both of which are key elements for Malaysia to become globally competitive.

Commenting on the upcoming budget, Minister of Finance, Tengku Zafrul gave a special address about the pathway to recovery that will continue in Budget 2022, which will be expansionary while laying the foundations for the government’s wider and longer-term reform efforts. Additionally, the Finance Minister announced that the Government would be embarking on a PLC Transformation (“PLCT”) programme for public listed companies, which
would complement the recently announced Perkukuh Pelaburan Rakyat (“PERKUKUH”) programme for GLICs. The PLCT programme, which would be spearheaded by Bursa Malaysia, aims to transform Malaysian corporates into high-performing entities by focusing on five pillars: for PLCs to be Performance Driven; to grow as Sustainable, Socially Responsible and Ethical organisations; embody Strengthened Corporate Governance; be Digitally Enabled; and contribute towards overall Nation Building imperatives. The PLCT Transformation Programme will include
issuance of five digital guideline books ― one for each of the five pillars.

The guidelines will not be prescriptive but will be developed in consultation with corporate leaders, fund managers as well as institutional investors, to ensure that they are impactful. As on the subject of 12MP, Dato’ Sri Mustapa Mohamed, spoke about how the plan is designed to revitalise growth, strengthen enablers, improve social security, eradicate hardcore poverty, and narrow income gaps. The Minister also touched on how to future-proof the country through digitalisation of the economy, including the development of local talent and technology.

Fad’l Mohamed, Chief Executive Officer, Maybank Investment Bank said, “ With the world at an inflection point post-pandemic coupled with the climate crisis, there is an urgent need for reforms to future-proof the economy. The private sector and capital market play an important role in mobilising and allocating resources to support sustainable and inclusive growth.”

The half-day virtual event drew a total of 1,500 participants, comprising corporates, analysts, foreign fund managers, and institutional investors with a total estimated asset under management of USD 10 trillion.

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