BUSAN, Korea: Prime Minister Tun Dr Mahathir Mohamad said the government intends to make Malaysia as part of the new industrial revolution.
For this purpose more people, especially the younger generation, would have to be educated “with new ways of doing things, strategies and technologies”, he said at the Asean-Republic of Korea (ROK) CEO dialogue here today:
“Of course, now we are left behind but we want to catch up with other countries.
“We want to be a country that can use modern technology to its advantage,” the told the gathering of the mostly chief executive officers of major South Korean companies.
“Obviously it is new technology that Malaysia must acquire. If we are left behind, we will never catch up,” he said.
Yoon Sung Woon from Bain and Company conducted the question and answer session with the prime minister.
The local partner of the global management firm focused his queries on policy changes brought about by the new Pakatan Harapan government as well as transformation plan in Malaysia.
South Korea was recognised as the world’s most innovative economy under Bloomberg’s Annual Innovation Index 2019 and Malaysia is seeking to benefit from the east-asian country’s experience.
Dr Mahathir said Malaysia remained friendly to investors and some of the old policies (on investment and trade) were still relevant today
“We are a new government but led by the leader of the old government,” he quipped to loud laughter of the full house hall.
What is different, said the prime minister, was that the government was more strict on combating corruption and financial management discrepancies.
“From the stand point of foreign investors, not much has change. We are still very friendly,” said Dr Mahathir.
The CEO Dialogue session, organised by the Korean Chamber of Commerce and Industry, was held in conjunction with the two-day Asean-ROK Summit which kicks-off today with a leaders’ welcoming dinner.
Later, the prime minister visited the Malaysian Pavilion at the Asean Invest Exhibition at the Busan Exhibition and Convention Centre which is also the summit venue.
Dr Mahathir, among others, was briefed by Malaysian exhibitor Usaha Strategik Sdn Bhd (USSB) which produces biomass pellet from oil palm empty fruit bunch.
Its executive director Za’im Hadi Meskam said the prime minister was interested on how the local company developed the product.
USSB initially collaborated with a German company to acquire technology to produce energy pellet from biowaste but later switch to a technology partner from China.
“About 60 per cent of the technology is developed locally and our product now is used by a company operating an industrial boiler in Johor, “ he said.
Za’im said he has received enquiries from India and Myanmar during the exhibition.