DATUK SERI (DR.) ENG WEI CHUN – IS MALAYSIA THE NEXT ADVANCED COUNTRY IN ASIA?
Malaysia, as a developing country, has achieved significant economic growth and development over the past few decades, establishing itself as an important economic player in Southeast Asia. However, despite these accomplishments, Malaysia still has room for improvement when measured against international benchmarks and continues to strive toward its goal of becoming a developed nation.
Since the early 1990s, when Tun Dr. Mahathir introduced Vision 2020, successive Prime Ministers have launched various economic plans and policies aimed at elevating the country to the status of a developed nation
A developed country is defined as one with high levels of economic development, advanced technology, and high living standards. It is often referred to as an industrialized nation or a high-income economy, with Gross Domestic Product (GDP) being one of the key metrics for evaluation. According to data, out of 193 countries globally, only 31 (16%) are classified as developed nations. The top 10 leaders include the United States, Japan, Germany, the United Kingdom, France, Switzerland, Australia, Norway, the Netherlands, and Sweden. Within Asia, only four countries in Asia fall into this category: Japan, South Korea, Israel, and Singapore.
Despite the efforts of multiple Malaysian Prime Ministers and the policies they have implemented, the results have not been ideal. The main reason for this is that many of these policies were overly politicized, which made them difficult to implement effectively. Given this trend, how can Malaysia become the fifth developed nation in Asia?
To achieve developed nation status, one of the main criteria is having a high GDP. Generally, the higher the GDP, the higher the average standard of living for the country’s residents. Additionally, countries with high GDP growth rates often experience higher levels of labor productivity. In essense, efficient production methods and innovative technologies can increase overall economic output and boost labor productivity. This means that if a country’s workforce is more efficient, its economy can create more value with fewer resources, which plays a crucial role in driving economic growth. In this regard, Malaysia should focus on cultivating highly skilled professionals, as these individuals will play a pivotal role in driving the country’s prosperity.
I believe that Malaysia’s education system should draw inspiration from developed nations like Japan and Germany, as students are the future leaders of the country. If the education system continues to be heavily influenced by ethnic and religious considerations, how can our nation achieve the developed status? Furthermore, the curricula at local universities must evolve to meet global standards, offering industrial technology and knowledge at a world-class level. This will ensure the effective development of high-caliber Malaysian talent.
Beyond academics, ministries such as the Ministry of Economic Affairs and the Ministry of Home Affairs must carry out their responsibilities effectively to prevent talent from leaving the country while also attracting foreign talent., Factors such as national security, currency stability, and healthcare systems are crucial to attract both local and international talents. In other words, every government department should communicate closely and collaborate to drive the nation forward.
For example, Japan and Germany, despite being severely impacted by World War II, were able to recover rapidly due to the highly skilled workforce and top-tier talent that had been educated prior to the war. By efficiently absorbing and adapting advanced technology, they transformed it into productive capacity, leading to significant growth in domestic productivity and the economy after the war. This is a clear example of how these two former war-torn countries were able to create an economic miracle in just 20 years, partly due to the right focus on industrial development, as well as high-quality and efficient labor force.
It is evident that a country with a more efficient workforce will experience higher productivity, leading to sustainable economic growth. If Malaysia aims to join the ranks of advanced countries in the next decade, the key lies in enhancing productivity
In my opinion, the government should place greater emphasis on developing high- quality, skilled education, as well as on policies that promote female labor force participation. Of course, other factors such as security, currency stability, and healthcare standards should not be overlooked.
If Malaysia can focus on these areas and achieve excellence, I truly believe that the goal of high economic growth and becoming an advanced country is within reach.
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