Rethink, reinvent, revitalise in new normal, industries urged - MIDA | Malaysian Investment Development Authority
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Rethink, reinvent, revitalise in new normal, industries urged

Rethink, reinvent, revitalise in new normal, industries urged

13 May 2020

Industries must rethink, recover and revitalise their businesses in the aftermath of the Covid-19 pandemic to move forward, said Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.

He said for many enterprises hit by this crisis, business survival was the main concern, and in the longer run, it is imperative that businesses remain sustainable.

“In this regard, the Ministry of International Trade and Industry (MITI) will do its best to bolster the industries and businesses, particularly the SMEs, and ensure the sustainability of employment.

“One of the core concerns will not only be the number of jobs, but also the
importance of productivity of our workers,” he said at a forum on “Rethink, Reinvent, Revitalise in the New Normal” today.

It was organised by the Electrical & Electronics Productivity Nexus (EEPN),
supported by Malaysia Productivity Corporation (MPC), as part of the government’s initiative to mitigate the unintended economic consequences of the battle against Covid-19.

The webinar was moderated by former Malaysia External Trade Development Corporation (MATRADE) CEO Datuk Dr Wong Lai Sum, with panellists from the Asia-Pacific Economic Cooperation (APEC), Linxens China and Deloitte.

Azmin said the initiative was specially organised for companies to take stock of the situation and to design strategies to move forward, and MPC and its partners had arranged for internationally renowned speakers and captains of industry to share their knowledge and insights.

In addition, he said, the Covid-19 crisis had highlighted the need for a rapid transformation of the Malaysian economy, and accelerating digital empowerment to enrich the lives and livelihoods of Malaysians is the best way forward.

“In the current situation, the business community should look at the challenges they are facing as an opportunity to add value to their business. There is no better time than now to fast-track their digitalisation agenda across all facets of their businesses.

“The fact is that Covid-19 has jolted us to the reality of how crucial and pervasive digitalisation is and why we need it more than ever to future-proof our businesses,” he added.

“Digitalisation drives productivity and enhances connectivity among working peers, customers and business partners beyond geographical borders and may even help in reducing the carbon footprint.

“It will help us achieve sustainable economic growth while protecting the environment and the well-being of the people.”

Source: Bernama

Posted on : 13 May 2020