KRI PRESS |
May 31, 2023
LSE SEAC-KRI Malaysia Futures Forum discusses approaches to a sustainable and holistic development for Malaysia
## Media Release
**KUALA LUMPUR, 31 May 2023:** Khazanah Research Institute (KRI) and the Saw Swee Hock Southeast Asia Centre of the London School of Economics and Political Science (LSE SEAC) opened the _Malaysia Futures_ forum today in Kuala Lumpur. This forum brought together leading scholars, policymakers, think tanks and thought leaders to engage in critical discussions and provide valuable insights into Malaysia’s future.
The forum continues the conversation on ‘futures’, following the Southeast Asia Forum 2023: Southeast Asia Futures held by LSE SEAC on 9 – 12 May 2023 in London.
The forum is organised into five sessions; Economic Futures, Urban Futures, Institutional Futures, Digital Futures and Socio-Economic Futures, with each session featuring distinguished panellists across Southeast Asia—our own experts from Malaysia as well as Thailand, Japan, Brunei Darussalam, Philippines, Singapore, and South Korea. The event is well attended by representatives from government, academia, private industry, civil society, and international organisations.
Chairman of KRI, Tan Sri Nor Mohamed Yakcop, opened the _Malaysia Futures_ forum by delving into Malaysia’s laudable transformation. As Malaysia faces new challenges and opportunities across many domains—Social, Economic, Urban, Institutional, and Digital—the stakeholders across society, government, and the private sector are mobilised to launch the country into a more equitable and sustainable growth path.
“With the range of topics in this forum, and the assembly of diverse and distinguished stakeholders in the room today, I am confident that this _Malaysia Futures_ forum will contribute significantly to shaping our national conversation on growth and development.” said Tan Sri Nor Mohamed Yakcop.
“We are living in a time of a new Cold War… [W]e have the real threat of war because war is no longer due to the inability to resolve matters, but it is being deliberately provoked time and time again” said Emeritus Professor Jomo Kwame Sundaram. He shared various global developments that potentially pose a threat to Malaysia—such as the consequence of the country’s participation in trade agreements, the imposition of the World Trade Organisation’s (WTO) “one-size-fits-all” rules, and power imbalance in international dispute settlements and negotiations.
## No longer _Factory Asia_ but also _Factory and Market Asia_
The _Economic Futures_ session discussed the opportunities and challenges presented by Foreign Direct Investments (FDIs) and Global Value Chains (GVCs). Moderated by KRI Deputy Director of Research, Nithiyananthan Muthusamy, the panellists, Dr Guanie Lim (National Graduate Institute for Policy Studies (GRIPS), Japan), Professor Dr Pavida Pananond (Thammasat Business School, Thailand), Emeritus Professor Dr Tham Siew Yean (Universiti Kebangsaan Malaysia (UKM)) and Emeritus Professor Tan Sri Dato’ Seri Dr. Noor Azlan Ghazali (UKM Graduate Business School) shared their insights on how the growth of markets in Southeast Asia have produced new challenges and opportunities in the region through reorganisation of trade flows.
The panel noted that ongoing geopolitical tensions have affected the ASEAN region within GVC and discussed ways forward in building comparative advantage and move towards high value-add industries through strategic positioning of FDI, driving innovation via improving product complexity, and leveraging on emerging opportunities from value chain reshuffling.
## Navigating the complexities: inclusive and sustainable urban futures
The diverse nature of cities, the multiplicities of challenges they face, and the need for policy interventions to reflect these complexities (be it from participatory governance to climate adaptation) was the underlying thread that linked the discussion on inclusive and sustainable approaches to city-making between four esteemed panellists for the session on Urban Futures.
The session was delivered by Dr Koh Sin Yee (Institute of Asian Studies (IAS)), KRI Senior Research Associate, Yin Shao Loong, Professor Dr Tim Bunnel (National University of Singapore (NUS)) and Dr Kristian Saguin (University of the Philippines), and moderated by Professor Hyun Bang Shin (Director of LSE SEAC). The panel mentioned the need to develop awareness of the major challenges in cities through data and evidence when devising policies in order for it to be supported by the general public.
## The changing role of government as economies evolve
During the _Institutional Futures_ session, our panellists discussed the changing role of government as well as its relationship with the market. The discourse on the role of institutions was held by Professor Dr Chua Beng Huat (Yale-NUS College), Professor Dr Yeah Kim Leng (Jeffrey Cheah Institute Southeast Asia (JSI)), Dr Kim Dong Soo (Korea Institute for Industrial Economic and Trade (KIET)) and Dr Sarena Che Omar (KRI Deputy Director of Research), moderated by Yin Shao Loong. The session alluded that reforms and recalibration on the role of government on governing the market should be based on the strengths and capabilities of both sectors. Done well, government intervention can be beneficial to both society and the government, but failure to adapt when economies evolve will lead to unintended market distortions.
## About LSE SEAC
The Saw Swee Hock Southeast Asia Centre (LSE SEAC) is a cross-disciplinary, regionally focused academic centre based at the London School of Economics and Political Science (LSE). LSE SEAC conducts research, facilitates knowledge exchange, and organizes events and activities related to Southeast Asia, contributing to a greater understanding of the region's complexities.
## About Khazanah Research Institute
The Khazanah Research Institute (KRI) is an independent public policy think tank based in Malaysia. KRI conducts research and analysis on various aspects of the economy and society, focusing on generating insights and recommendations to support Malaysia's sustainable and inclusive development.
For media inquiries, please contact:
Najyah Johar
Chief Operating Officer
Khazanah Research Institute
03-2705 6103
najyah.johar@krinstitute.org
**END**
[**MEDIA STATEMENT (ENGLISH)**](https://www.krinstitute.org/assets/contentMS/img/template/editor/Malaysia%20Futures%20-%20Press%20Release%20_20230531_Day%201.pdf)
**KUALA LUMPUR, 31 May 2023:** Khazanah Research Institute (KRI) and the Saw Swee Hock Southeast Asia Centre of the London School of Economics and Political Science (LSE SEAC) opened the _Malaysia Futures_ forum today in Kuala Lumpur. This forum brought together leading scholars, policymakers, think tanks and thought leaders to engage in critical discussions and provide valuable insights into Malaysia’s future.
The forum continues the conversation on ‘futures’, following the Southeast Asia Forum 2023: Southeast Asia Futures held by LSE SEAC on 9 – 12 May 2023 in London.
The forum is organised into five sessions; Economic Futures, Urban Futures, Institutional Futures, Digital Futures and Socio-Economic Futures, with each session featuring distinguished panellists across Southeast Asia—our own experts from Malaysia as well as Thailand, Japan, Brunei Darussalam, Philippines, Singapore, and South Korea. The event is well attended by representatives from government, academia, private industry, civil society, and international organisations.
Chairman of KRI, Tan Sri Nor Mohamed Yakcop, opened the _Malaysia Futures_ forum by delving into Malaysia’s laudable transformation. As Malaysia faces new challenges and opportunities across many domains—Social, Economic, Urban, Institutional, and Digital—the stakeholders across society, government, and the private sector are mobilised to launch the country into a more equitable and sustainable growth path.
“With the range of topics in this forum, and the assembly of diverse and distinguished stakeholders in the room today, I am confident that this _Malaysia Futures_ forum will contribute significantly to shaping our national conversation on growth and development.” said Tan Sri Nor Mohamed Yakcop.
“We are living in a time of a new Cold War… [W]e have the real threat of war because war is no longer due to the inability to resolve matters, but it is being deliberately provoked time and time again” said Emeritus Professor Jomo Kwame Sundaram. He shared various global developments that potentially pose a threat to Malaysia—such as the consequence of the country’s participation in trade agreements, the imposition of the World Trade Organisation’s (WTO) “one-size-fits-all” rules, and power imbalance in international dispute settlements and negotiations.
## No longer _Factory Asia_ but also _Factory and Market Asia_
The _Economic Futures_ session discussed the opportunities and challenges presented by Foreign Direct Investments (FDIs) and Global Value Chains (GVCs). Moderated by KRI Deputy Director of Research, Nithiyananthan Muthusamy, the panellists, Dr Guanie Lim (National Graduate Institute for Policy Studies (GRIPS), Japan), Professor Dr Pavida Pananond (Thammasat Business School, Thailand), Emeritus Professor Dr Tham Siew Yean (Universiti Kebangsaan Malaysia (UKM)) and Emeritus Professor Tan Sri Dato’ Seri Dr. Noor Azlan Ghazali (UKM Graduate Business School) shared their insights on how the growth of markets in Southeast Asia have produced new challenges and opportunities in the region through reorganisation of trade flows.
The panel noted that ongoing geopolitical tensions have affected the ASEAN region within GVC and discussed ways forward in building comparative advantage and move towards high value-add industries through strategic positioning of FDI, driving innovation via improving product complexity, and leveraging on emerging opportunities from value chain reshuffling.
## Navigating the complexities: inclusive and sustainable urban futures
The diverse nature of cities, the multiplicities of challenges they face, and the need for policy interventions to reflect these complexities (be it from participatory governance to climate adaptation) was the underlying thread that linked the discussion on inclusive and sustainable approaches to city-making between four esteemed panellists for the session on Urban Futures.
The session was delivered by Dr Koh Sin Yee (Institute of Asian Studies (IAS)), KRI Senior Research Associate, Yin Shao Loong, Professor Dr Tim Bunnel (National University of Singapore (NUS)) and Dr Kristian Saguin (University of the Philippines), and moderated by Professor Hyun Bang Shin (Director of LSE SEAC). The panel mentioned the need to develop awareness of the major challenges in cities through data and evidence when devising policies in order for it to be supported by the general public.
## The changing role of government as economies evolve
During the _Institutional Futures_ session, our panellists discussed the changing role of government as well as its relationship with the market. The discourse on the role of institutions was held by Professor Dr Chua Beng Huat (Yale-NUS College), Professor Dr Yeah Kim Leng (Jeffrey Cheah Institute Southeast Asia (JSI)), Dr Kim Dong Soo (Korea Institute for Industrial Economic and Trade (KIET)) and Dr Sarena Che Omar (KRI Deputy Director of Research), moderated by Yin Shao Loong. The session alluded that reforms and recalibration on the role of government on governing the market should be based on the strengths and capabilities of both sectors. Done well, government intervention can be beneficial to both society and the government, but failure to adapt when economies evolve will lead to unintended market distortions.
## About LSE SEAC
The Saw Swee Hock Southeast Asia Centre (LSE SEAC) is a cross-disciplinary, regionally focused academic centre based at the London School of Economics and Political Science (LSE). LSE SEAC conducts research, facilitates knowledge exchange, and organizes events and activities related to Southeast Asia, contributing to a greater understanding of the region's complexities.
## About Khazanah Research Institute
The Khazanah Research Institute (KRI) is an independent public policy think tank based in Malaysia. KRI conducts research and analysis on various aspects of the economy and society, focusing on generating insights and recommendations to support Malaysia's sustainable and inclusive development.
For media inquiries, please contact:
Najyah Johar
Chief Operating Officer
Khazanah Research Institute
03-2705 6103
najyah.johar@krinstitute.org
**END**
[**MEDIA STATEMENT (ENGLISH)**](https://www.krinstitute.org/assets/contentMS/img/template/editor/Malaysia%20Futures%20-%20Press%20Release%20_20230531_Day%201.pdf)
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