SASANA Symposium 2023: Structural Reforms for a Stronger Malaysia

SASANA SYMPOSIUM 2023: STRUCTURAL REFORMS FOR A STRONGER MALAYSIA
1. This intellectual discourse that aims to promote meaningful conversations on key issues and necessary reforms required for the Malaysian economy has gathered policy makers, industry players, NGOs and think tanks. Various topics were discussed from digitalisation & monetary policy to social security & sustainability.
2. Malaysia has experienced rapid digitalisation in the economy with internationally acknowledged cybersecurity strength which shows that Malaysia does not lack the technological expertise and capabilities to be utilised for national interest. What Malaysia lacks is a clear & solid vision, will & agenda for national power.
3. National power is not just about a country with political, military and economic power but also a resilient, prosperous & united society. Without this national power vision, the discussion about social protection is not comprehensive. As pointed out by one of the panelists, social protection is not just about household income, retirement savings & insurance but it also involves food security, education & health care. She also commented that even the definition and measurement of poverty & vulnerability differ between policy makers & the NGOs working on the ground.
4. While Malaysia has good technological capabilities for the business sector, technological adoption & innovation remains weak in social protection agenda especially in the collection and analysis of integrated data as well as mobilisation of resources. One of the panelists also admitted that Malaysia still lags behind advanced economies in terms of data collection for economic decision making.
5. Malaysia economy is stable but not strong enough to provide more policy options for the government. While the monetary policy is a macroeconomic demand side policy that helps to provide the conducive environment for economic growth with price stability, other policies are necessary to tackle microeconomic issues & drive economic growth. However, limited fiscal resources & relatively small reserves restrict choices & capabilities in policy making & implementation.
6. One of the panelists raised the question of how do we envision Malaysia in the future? IRIS Institute looks forward to more opportunities to discuss about our national vision towards strong, advanced & sovereign Malaysia.

Dr Adilah Zafirah Mohd Suberi

IRIS Institute

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