By Ahmad Fauzi Mustafa
August is a meaningful month for Malaysians. We celebrate the anniversary of our independence tomorrow. This year is the 64th National Day.
Defending our independence for more than six decades is not easy, but we have been successful to a large extent. Surely, we want to do better in terms of economic achievements in the next 100 years.
Though we won’t live to see it, that should be the aim of the new leadership under the ninth prime minister, Datuk Seri Ismail Sabri Yaakob. He must have a comprehensive economic recovery plan, which is followed through by future leaders.
We may call it economic patriotism. Patriotism should not only be seen in one dimension or is not just about loving the country. It can be interpreted in many ways, especially in the broader context of economic wellbeing.
A new economic model should enable us to provide economic justice to the entire “Malaysian Family” while building a nation that is stable in the long term. The target is to reinvigorate our national development post Covid-19 pandemic and beyond.
For example, it involves sustaining the growth of the gig economy, be it e-commerce, e-hailing, p-hailing or the food and beverage sector.
More needs to be done. Perhaps we can introduce pilot programmes to create jobs in sectors that are worst hit by the pandemic such as education, tourism, hospitality, aviation and small- and medium-sized enterprises.
Apart from jobs, it’s also about creating new wealth. Malaysians don’t want to see the economy continuing on a downward spiral with people’s pockets getting thinner and their mental health affected due to the crisis.
We hope the new leadership restores the people’s prosperity, which has suffered since the pandemic struck last year.
The appointment of Ismail Sabri will, hopefully, herald political stability, stable economy, better health and strong sustainability.
He has said the government aims to increase the rakyat’s purchasing power and urged the private sector to elevate its role as a driver of economic growth.
Another example of economic trend is the Fintech Promotion Programme initiative, which offers opportunities for financial technology companies to stimulate a dynamic ecosystem for continuous innovation in the financial services sector while contributing to the digital economy.
The priority is to boost the economy by implementing regulations and economic activities that allow the country to profit from the expansion of enterprises in terms of growth and employment.
I believe that Malaysians are ready to do the necessary to overcome Covid-19 and see the return of a healthy and stable economy, as well as prosperity.
- The writer is Former researcher, Parliamentary Economy Section, Research and Library Division; Senior analyst, Centre of Strategic Research
