SEPTEMBER 14 — 1. I feel that this year’s Jiwa Merdeka theme reflects a renewed sense of hope and optimism, something I dare say has not been felt for quite a while! The reasons? Two years on since our nation fully reopened post-pandemic, we see a more resilient economy that grew 5.1 per cent year-on-year in 1H2024, ranking us ahead of our regional peers, while placing us on track to achieve the 4-5 per cent GDP target this year. The ringgit is the strongest it has been in 18 months. Our January-July 2024 trade rose by 9.8 per cent year-on-year, to reach a record high of MYR1.652 trillion. Meanwhile, the manufacturing sector grew 1.9 per cent and 4.7 per cent in the 1Q2024 and 2Q2024, respectively.
2. 1H2024 also saw RM160 billion in approved investments, an 18 per cent year-on-year increase, set to create 79,187 jobs for Malaysians. Fresh or additional Foreign Investments by renowned names such as Amazon Web Services, AMD, GDS, Google and Infineon have encouraged a corresponding increase in Domestic Investments — an explicit endorsement of our policies by our fellow countrymen.
3. The Government has proven that it is responsive to the current trends in global trade and investment, which has enabled our trade numbers and our investment inflows to soar. Even international media have reported favourably on how foreign investors are returning to Malaysia as a confluence of improving growth, stable government and rising currency, and on how Malaysia is becoming a preferred investment destination as companies around the world protect themselves from geopolitical disruptions.
4. Foreign investors and dignitaries I meet also often express their appreciation for our clear policies, political stability and rule of law. It is we who often take these competitive advantages, not to mention our unity and diversity, for granted.
5. On that note, in celebrating this Merdeka month, I feel that we have every right to harbour more hope and optimism, particularly given our stronger economy. For me, the Jiwa Merdeka appreciation is even more precious, given how just a few years ago, many of us yearned to be free from the shackles of Covid-19.
6. Back in 2020, I had accepted the Finance Minister position, arguably one of the ‘craziest’ moves in my career, but the call to national service was too strong. Perhaps part of that ‘craziness’ was due to the public service DNA in my own mother, grandfather and great grandfather who had helmed key government roles in their lifetime. (Incidentally, my great-grandfather was part of Tunku Abdul Rahman’s Merdeka delegation in 1957).
7. Both my mother and grandfather often told me about the diverse civil service teams that they used to work with, referencing their colleagues based on competencies rather than race. Similarly, I consider it a real privilege to have worked with equally diverse teams from the Ministry of Finance, other ministries and agencies during the Covid years. We were united in a single mission: to help Malaysia achieve ‘independence’ from the pandemic. Alhamdulillah, our concerted whole-of-nation effort did not just that, but also helped the economy grow 8.7 per cent in 2022.
8. Fast forward to today, at the Ministry of Investment, Trade & Industry (Miti), I am again privileged to work with Miti’s richly diverse team, to negotiate the best trade deals for Malaysia, attract the right investments for sustainable socioeconomic growth and develop industrial resilience. With the current political stability, the Miti family has been able to execute important policies, including Malaysia’s unique ‘industrial diplomacy’ to create a more secure global supply chain, especially in sectors such as semiconductors.
9. The Unity Government’s Cabinet — showcasing both diversity and diligence — has also maintained the necessary stability for Malaysia to begin much-needed economic reforms — including the New Industrial Master Plan 2030, which has spawned the National Semiconductor Strategy and the Green Investment Strategy. These have been instrumental in attracting more investors to our shores, as seen in the 1H 2024 approved investment figures.
10. Some may say: “There’s a disconnect between the strong headline numbers and the rakyat’s ‘thinning’ wallets.” But reforms are also happening on that front — including the recent bold hikes in civil servant salaries to set the tone for increasing stagnant wages in other sectors.
11. Another key reform is on Miti’s collaboration with other Ministries to develop a robust talent pipeline to support key industries and help our SMEs move up the global value chain. Our rakyat is our most precious resource, and investors appreciate our talent’s diversity and multilingual ability. We must, therefore, recognise, nurture and encourage good talent for the country to progress.
12. Just last month, during one of my site visits in Penang, I met an engineering graduate from a local university. This unassuming young, tudung-clad girl — a sound engineer at a well-known multinational — had successfully perfected the noise-reduction technology for her employer’s high-quality walkie talkies used worldwide. Such innovation could mean life or death in high-risk situations such as a police chase (shoot or don’t shoot?) or on offshore oil rigs where winds of up to 80 mph often garble crucial safety instructions.
13. Such interactions make me super-proud, and also super-charged to get our industrial talent strategy right, so our top talent will stay to serve the nation. Thus far, Miti has been collaborating with the Ministries of Human Resource and Higher Education to systematically develop the country’s industrial talent needs.
14. Indeed, I have seen youth of all races working alongside one another in various advanced industries and multinationals. Their talents and abilities, no doubt, have contributed to our exports, and towards attracting further investments that support Malaysia’s socio-economic prosperity. On offshore Malaysian talent, I am glad to know that Talent Corp’s ‘brain circulation’ programme — a novel ‘brain gain’ initiative — is attracting various professionals in the Malaysian diaspora to contribute to our Motherland in their own unique way.
15. Long story short, many Malaysians are eager to nation-build, and it is not just our political stability, but also our unity and unique diversity that make up Malaysia’s competitive edge. So, in conjunction with this Merdeka month, let us renew our resolve to fiercely defend our hard-earned racial harmony, unity and diversity. This may be the ultimate act of patriotism in the face of current global uncertainties and polarisation.
16. I hope this somehow takes root, especially with the young, for this blessed land of ours — which has gone through so much to gain independence, survive the pandemic and grow admirably — must never be taken for granted. Remember, we are better together, linked by a desire to see Malaysia succeed.
17. I wish all my fellow citizens a joyous Merdeka month and Hari Malaysia!
* Datuk Seri Tengku Zafrul Abdul Aziz Malaysia’s Investment, Trade and Industry Minister.
** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
