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Aiming High: Navigating the Next Stage of Malaysia’s Development

March 16-May 26, 2021

Kuala Lumpur

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As Malaysia starts to look beyond the pandemic towards an economic recovery, it is an opportune time for the country to begin implementing reforms with the aim of achieving this development goal. A new World Bank flagship report Aiming High—Navigating the Next Stage of Malaysia’s Development explores this question in depth and provides policy recommendations on how the country can transition successfully to high-income and developed nation status – and sustain equitable economic growth over the medium term.

This new flagship report by the World Bank will be launched on March 16, 2021 under the patronage of YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz and the participation of YB Dato’ Sri Dr. Mustapa Mohamed, Minister in the Prime Minister’s Department (economy) and World Bank Vice President Victoria Kwakwa. Subsequent to the main launch event, there will be a series of online webinars, organized by the World Bank Group in partnership with the Ministry of Finance, to conduct in-depth discussions on various development topics explored in the flagship report.

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  • March 16, 2021 | Virtual Report Launch

    [Watch the Launch Event on Facebook]

    9:45-10:00

    Welcoming remarks: 

    Speaker: Victoria Kwakwa—Regional Vice President, World Bank Group

    10:00-10:20

    Official address and launch of the report

    Speaker: YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz – Minister of Finance, Malaysia

    10:20-10:35

    Navigating the next stage of Malaysia’s development

    As Malaysia positions itself for the next phase of its development, a new World Bank flagship report aims to explore the steps that Malaysia would need to take in order to fulfil its potential, to transition successfully to high-income and developed status, and to sustain equitable growth beyond the COVID-19 pandemic

    Presenter: Richard Record – Lead Economist for Malaysia, World Bank Group

    10:35-10:40

    Feature video presentation

    10:40-10:55

     

     

    Special address on Malaysia’s next development plan

    Speaker: YB Dato’ Sri Mustapa Mohamed – Minister in the Prime Minister’s Department (Economy), Malaysia

    10:55-12:10

    A reform agenda for Malaysia’s development beyond the pandemic

    Panel discussion on the key challenges and opportunities that Malaysia faces in the years ahead, and the reforms that will be needed to ensure that economic growth is sustainable and shared

    • YBrs. Puan Zakiah Jaafar – Deputy Secretary General (Policy), Ministry of Finance
    • YBhg. Datuk Shaik Abdul Rasheed Ghaffour – Deputy Governor, Bank Negara Malaysia
    • Tan Sri Datuk Rebecca Fatima Sta Maria – Executive Director, APEC Secretariat
    • Prof. Yeah Kim Leng – Director of the Economic Studies Program at the Jeffrey Cheah Institute on Southeast Asia, Sunway University
    • Ndiame Diop – Country Director for Brunei, Malaysia, Philippines and Thailand, World Bank Group

    Moderator: Firas Raad – Country Manager for Malaysia, World Bank Group

    12:10-12:15

    Closing remarks

    Speaker: Rajni Bajpai – Lead Governance Specialist, World Bank Group

  • April 7, 2021 | Online Knowledge Series #1: Growth and Institutions

    [Watch the Event on Facebook]

    10.00-10:05am

    Opening remarks

    Speaker: Richard Record - Lead Economist for Malaysia, World Bank Group

    10:05-10:30am

    Revitalizing Long Term Growth

    Malaysia’s trend GDP growth rate is expected to fall over the next 30 years as the country’s growth trajectory converges with that of high-income countries. Comparing Malaysia’s economic performance with other countries that have successfully escaped the middle-income trap, this session aims to share analysis on the necessary reforms for Malaysia to raise its rate of economic growth

    Presenter: Norman Loayza – Lead Economist, Development Research, World Bank Group [Presentation Slides]

    10:30-10:45am

    Q&A

    10:45-11:00am

    Modernizing Institutions

    Malaysia’s institutional quality lags behind that of key aspirational comparators. The session aims to explore measures needed to enhance government transparency, accountability and bureaucratic capacity as Malaysia looks to the future.

    Presenter: Rajni Bajpai – Lead Public Sector Specialist, World Bank Group [Presentation Slides]

    11:00-11.10am

     

     

    11:10-11:45am

     

    Discussant: Ms Farah Adura Binti Hj Hamidi- Deputy Director General, GIACC [Presentation Slides]

    Panel Discussion

    • Datuk Dr. Hamzah Kassim- Member of the Anti-corruption Advisory Board, MACC
    • Tricia Yeoh – CEO, Institute for Democracy and Economic Affairs (IDEAS)
    • Moderator: Alma Kanani – Practice Manager for Governance, World Bank Group 

  • April 20, 2021 | Online Knowledge Series #2: Competitiveness and Jobs

    [Watch the Event on Facebook]

    10:00-10:05am

    Opening remarks

    Speaker: Yasser El- Gammal – Practice Manager for Social Protection and Jobs, World Bank Group

    10:05-10:25am

    Boosting Competitiveness

    While Malaysia’s overall economic competitiveness ranks highly, productivity is falling behind relative to comparators. This session aims to explore the steps necessary to ensure that productivity growth and private sector innovation will be the primary drivers of future growth.

    Presenter: Smita Kuriakose – Senior Economist, Finance, Competitiveness and Innovation, World Bank Group [Presentation Slides]

    10:25-10:45am

    Creating Jobs

    The task of creating a sufficient number of well-paying, high-quality jobs is becoming more complex as Malaysia moves toward high-income status and as the nature of work changes. This session aims to examine automation, skills and the reforms that will be needed for Malaysians to successfully adapt to a changing world of work

    Presenter: Achim Schmillen – Practice Leader, Human Development, World Bank Group [Presentation Slides]

    10:45-12:00pm

    Panel Discussion

    • Dato‘ Sri Norazman Ayob– Deputy Secretary General, Ministry of International Trade and Industry
    • Sumitra Nair- Vice President and Head - Digital Skills and Jobs at MDEC Economy
    • Ganesh Kumar Bangah – Executive Chairman, Netccentric Ltd
    • Siobhan Das- Chief Executive Office, AMCHAM
    • Moderator: Cecile Thioro Niang – Practice Manager for Finance, Competitiveness and Innovation, World Bank Group

  • May 4, 2021 | Online Knowledge Series #3: Inclusion and Shared Prosperity

    [Watch the Event on Facebook]

    9:30-9:35am

    Opening remarks

    Speaker: Lars Moller – Practice Manager for Macroeconomics, Trade and Investment, World Bank Group

    9:35-9:55am

    Promoting Inclusion

    Growth has become less inclusive than in the past, compounding persistent disparities. This session will share experiences on what it would take to ensure that growth benefits all segments of the population equitably.

    Presenter: Ken Simler – Senior Economist, Poverty and Equity, World Bank Group

    9:55-10:15am

    Financing Shared Prosperity

    Financing the transition to high-income status will require an enhanced effort to raise more revenue and to spend it effectively. This session aims to outline some of the reforms needed to increase tax revenues, strengthen the social safety net, and target assistance more effectively.

    Presenter: Shakira Teh Sharifuddin – Senior Economist, Macroeconomics, Trade and Investment, World Bank Group

    10:15-11:25am

    Achieving Malaysia’s Shared Prosperity Vision 2030

    Panel discussion on the key reforms needed to ensure equitable growth among Malaysians, and sustainable and effective approaches to financing these reforms.

    • Moderator: Rinku Murgai – Practice Manager for Poverty and Equity, World Bank Group
    • Jomo Kwame Sundaram – Senior Advisor, Khazanah Research Institute
    • Norhana Endut – Assistant Governor, Bank Negara Malaysia
    • Nadia Jalil – Regional Head, Group Economics and Markets Analysis at CIMB
    • Muhammed Abdul Khalid – Research Fellow, Institute of Malaysian and International Studies (IKMAS), UKM

    11:25-11:30am

    Closing remarks

    Speaker: Firas Raad – Country Manager for Malaysia, World Bank Group

  • May 27, 2021 | Online Knowledge Series #4: Seeing The Finish Line: How Countries Navigated the High-Income Transition

    [Watch the Event LIVE on Facebook]

    2:30pm - 2:40pm

    Welcoming Remarks by Ndiame Diop, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand

    2:40pm - 2:50pm

    Special Address by Axel van Trotsenburg, World Bank Managing Director of Operations

    2:50pm - 3:05pm

    		Keynote Remarks by Nor Shamsiah Yunus, Governor of the Malaysian Central Bank

    3:05pm - 4:20pm

    Panel Discussion

    • Boris Vujcic, Governor, Croatian National Bank
    • Grzegorz Kolodko, former Deputy PM and Minister of Finance in Poland
    • Youngsun Koh, former Vice Minister of Employment/Labor in South Korea
    • Shakira Teh Sharifuddin, Moderator, WBG Senior Country Economist

    4:20pm - 4:30pm

    Closing Remarks by Victoria Kwakwa, World Bank Regional Vice President for East Asia and the Pacific 

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