Sultan Nazrin Says
Malaysia must continue to constantly reorient with global changes to prepare itself with any eventualities ahead. Sultan of Perak Sultan Nazrin Muizzuddin Shah has said in the 57 years since Independence, the nation has developed into a modern and diversified upper middle-income economy, whose expansion was supported by a sophisticated and resilient financial sector.
This is certainly a very impressive achievement, he said, and a testament to the contributions of all Malaysians who each have played a role in their own individual way. Speaking at the Khazanah Nasional Bhd’s Megatrends Conference, Sultan Nazrin said to build upon this progress, Malaysia however, cannot rely on the same thinking that has brought it to where it is now.
“As the world around us changes, so too must we re-orientate our developmental philosophy to the eventualities which lay ahead – lest we become what Harold Wilson, former Prime Minister of Great Britain, referred to as “architects of decay” in a speech to the Consultative Assembly of the Council of Europe.”
He said today, Malaysia stands on the brink of an era proclaimed by many to be the Asian Century.
“Over the next few decades, many fast-growing Asian economies are anticipated to achieve convergence with much of the developed world, and with it, garner greater global influence and higher living standards for its citizens.
“Indeed, their performance over the last decade lends credence to such optimism, with the gross domestic product of emerging Asian economies growing more than twice as fast as world GDP (gross domestic product).
“Having established this, what then shall be Malaysia’s place in this new world order whether are we bound?” he said.
Sultan Nazrin said as Malaysia moves forward, this country will continue to be a home for all.
“As the rising tide of the Asian century lifts our collective fortunes, such fruits of prosperity should be equitably shared.
“This means that access to opportunities must be made more inclusive by transcending socioeconomic barriers, particularly the chasm of poverty,” he said.
At the same time, he said growth must also be sustainable across generations and be able to support an optimal quality of life for those living within this economic ecosystem.