Malaysia needs to transform into a creative-base economy

Malaysia needs to transform into a creative-base economy

KUALA LUMPUR: It is time for captains of the industry, as well as policy makers from the private and public sectors to take a stand and work towards transforming Malaysia into a creative-base economy from a resource-base.

In a statement today, the BRICS-Asean Chamber of Commerce said with a positive mindset that was collectively being echoed by all sectors and subdivisions of the industry, each and every stakeholder should play a part in this new transformation.

It added that Malaysia’s future economic success and rapid recovery were totally depended on the private-public sector engagement in changing the economic direction from a conventional resource base to a creative one.

“There is no doubt but the way forward is to be engaged into the creative economy,” it said.

The chamber said creative economy creates creative industries and creative industries result in enhanced innovation, talent, skills, entrepreneurship, power-driven human capital, and a quantum leap in the economy of a nation.

It said creative naturally creates a boost in the economy and triggers tremendous opportunities, possibilities, employment and new businesses or industries.

“The pandemic has levelled the playing field among many nations. In order to be ahead of the global economic race, this transformation is vital for the future sustainability and competitiveness of our economy.

“This is the right formulation to address a nation that is bleeding in pain from unemployment, business and industry loss as a result of the pandemic,” it said. — Bernama

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