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Sustainable global devt practice critical in becoming high-income nation

19th September, 2019


KOTA KINABALU: The practice of sustainable global development is critical in Malaysia in its quest to become a high-income nation.

Chief Minister Datuk Seri Mohd Shafie Apdal said one way to attain it is through innovation – Malaysia has emphasized the use of green technology to minimize degradation and preserve environment to sustain all forms of life.

But the responsibility towards a sustainable development, he said, lies on the society as a whole, not only the government.

“Today, the Ministry of Economic Affairs focuses on the development of the country’s new sources of revenues and technologies such as digitalization of the economy and the construction of Artificial Intelligence – these would develop and generate income for all.

“In order to sustain global development, we must work collectively in our effort at the local, national, regional, and global levels; they need to be connected in effective ways to achieve our shared goals,” he said.

He noted that the 12th Malaysian Plan 2021-2025 hopes to attain sustainable development goals by year 2030 with concentration given to economic empowerment, environmental sustainability and social re-engineering.

To achieve the national aspiration, Shafie asserted that a strategy is needed to manage and retain the best talents of the human resource.

“An important strategy is by integrating the principle of leaving no one behind – this is in line with the government’s new development model of Shared Prosperity,” he said at the launching of the 2nd International Conference on Economics (ICE) 2019 here Wednesday.

His speech was delivered by Assistant Finance Minister Saripuddin Hatta. Themed ‘Sustaining Global Development through Policy, Innovation and Integration’, the conference saw 150 participants including from Japan, Indonesia, South Korea, Taiwan and Bangladesh among others.

The two-day conference was aimed at bringing together researchers, practitioners and stakeholders under one platform to share ideas and discussions on current topics in economics.

According to Universiti Malaysia Sabah (UMS) vice chancellor Prof. Datuk Dr Taufiq Yap Yun Hin, the meeting of participants from various fields may culminate in a resolution on how to achieve sustainable development goals.

Asserting that one of the ways to attain sustainable development is through the health of urban economy, he stressed that the nation should focus on development of economic activity, job opportunities and eradication of poverty.

He noted however that Malaysia has embarked towards sustainable development since the launching of the New Economic Policy in 1970 followed by the formulation of the New Economic Model in 2009.

With the 11th Malaysian Plan themed Anchoring Growth on People, he stated that it put the people at the forefront of development by ensuring no one is left out of the participation and benefit of national development.

“Therefore strong holistic collaborations between the government, industry, private sector, communities, professionals, and academics are paramount in ensuring the achievement of sustainability at both the national and international levels of development,” he said in his speech delivered by UMS dean of Faculty of Business, Economics and Accountancy, Assoc. Prof. Dr Rahman Noordin.

Also present was ICE 2019 chairperson Dr Sarma Mohd Imran Aralas.

Witnessed during the ceremony was the launching of two books – Studies on the Economy of Sabah, and Kalimantan: Towards Greater Economic Interaction in Borneo.

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