KUALA LUMPUR: The World Economic Forum (WEF) on Asean 2016 today promises to raise Malaysia’s international profile, underpinned by its growth track record and the successful launch of the regional single market of Asean Economic Community (AEC).
Malaysia will share its journey of economic resilience and sustainability which has placed it on track to become a high-income nation in 2020.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the undeniably strong influence of Asean and the role of the 10-member grouping in the global economy will be the broad agenda.
“While the private sector benefits from the extensive networking sessions, the government sees a lot of intangible value in co-organising this event,” he said yesterday.
It is taking place for two days under the theme “Shaping the Asean Agenda for inclusion and growth”.
Other Asean capitals that have hosted the event include Jakarta, Manila, and Yangon. Phnom Penh is slated for next year’s forum.
Malaysia, he said, will be hosting the WEF for the third time, having previously done so under the East Asia Forum in 2002 and 2008.
For WEF, this year marks a milestone year for it marks 25 years of staging a regional summit in Asia.
Close to 600 people from 40 countries are attending the forum, including 24 Eeuropean corporate leaders, with the likes of Telenor and Dupont.
Apart from the subject of social inclusion which Malaysia has identified as key towards sustainable growth, WEF will also expand on the Fourth Industrial Revolution which was the focus of WEF Davos earlier this year by Professor Klaus Schwab, WEF founder and executive chairman.
“The government machinery, led by Prime Minister Datuk Seri Najib Razak, and key Cabinet members will share Malaysia’s experience and perspective with select audience.”
Najib will launch the event this afternoon with the opening plenary on “Shaping the Asean agenda for inclusion and growth”, while various ministers will speak on areas to mark Asean’s future growth, such as energy, economic architecture, healthcare, smart cities, manufacturing, and social innovation.
Apart from the many one-on-one meetings with corporate leaders, investment agencies will also be making use the platform to brand Malaysia.
“We will share our transformation, the issue of private investments lagging before we embarked on 2010 transformation exercise, dealing with public expenditure and the increasing role of private investments in our economy.”
Fifteen Malaysian members of the WEF include AirAsia Bhd, Astro Malaysia Holdings Bhd, Axiata Group Bhd, CIMB Group Holdings Bhd, Felda Global Ventures Bhd, IHH Healthcare Bhd and Khazanah Nasional Bhd.
The rest are Peremba group of companies, Permodalan Nasional Bhd, Petroliam Nasional Bhd, QI group of companies, SapuraKencana Petroleum Bhd, Sime Darby Bhd, UEM Group Bhd and YTL Corporation Bhd.