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aws全区号(www.2km.me)_Urgent need to transform or lose out

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“It is critical for the country to transform. We have to ensure that Malaysia is a fertile ground once again for investments in technology, finance and innovation,” Accenture Malaysia country managing director Azwan Baharuddin tells StarBizWeek.

MALAYSIA needs to ensure it keeps its leading position in competitiveness among its Asean peers even as countries such as Vietnam and Thailand continue to leap forward.

“It is critical for the country to transform. We have to ensure that Malaysia is a fertile ground once again for investments in technology, finance and innovation,” Accenture Malaysia country managing director Azwan Baharuddin tells StarBizWeek.

“We are losing to our peers in this respect. We are already lagging behind Thailand and Vietnam, according to the National Trade Blueprint by the International Trade and Industry Ministry (Miti).

“In the World Competitiveness Ranking 2020 report by the Institute for Management Development, we have dropped to 27th place,” he adds.

He notes that the Miti blueprint attributes the drop in ranking to the weaker performance in skill, finance and business dynamism.

“If you look at Vietnam’s GDP, it was so far behind some five years ago but if you look at it now, it is very close and is almost the same as ours. From nowhere to being at almost the same level in GDP as ours!” Azwan says.

He also highlights that in terms of GDP per capita, Malaysia has been falling very much behind recently and it would be to the country’s benefit to transform.

“It is important for us to transform. If we are not out there getting investments, our neighbouring countries will get it and Malaysia is going to lose out a lot,” Azwan says.

Improving competitiveness

He notes that the urgent need is to improve the country’s competitiveness so as to be an attractive foreign direct investment (FDI) destination again.

“If we get a lot of FDIs, it tells you we are doing well. It tells you that our transformation plan is working. It also shows that our policies are consistent and valuable to investors. This tells us that investors are here to stay and will stay for the long run,” Azwan says.

“We were ahead of many countries several years ago and now slowly we are slipping away. For example, in a Formula 1 race, you may be in the front two rows of the grid initially, but after 17 laps you find yourself in number 9th position and slowing further. We have to fix this,” he adds.

One of the areas that can be improved, Azwan says, is the last mile delivery to the people and this cannot be done through technology alone.

“While I’m optimistic about the role of new technology and improved public service deliveries, this is only part of the solution. Ultimately, we have to improve the citizen experience for public service delivery,” he says.

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