A Forum on the 1st Stage of the New Economic Model (NEM) was held on the 13th of April, 2010 at Seminar Rooms 1&2, Wawasan Open University (WOU), Kuala Lumpur. It was jointly organized by SEDAR Institute, Centre for Public Policy Studies (CPPS) and WOU. The forum started at 2.00pm and ended at 6.00pm.

The welcoming remarks were given by the Chairman of CPPS, Tan Sri Dato’ Dr. Ramon V. Navaratnam. The introductory remarks were given by the Executive Director of SEDAR Institute, Mr Khaw Veon Szu.
 
The Minister in the Prime Minister’s Department, Tan Sri Dr Koh Tsu Koon gave the opening keynote address. In his speech, Tan Sri Dr Koh stressed that the management of inclusiveness and competitiveness will be a major task ahead in the NEM.
 
The CEO of Asian Strategy and Leadership Institute (ASLI), Dato’ Dr Michael Yeoh moderated the first panel on enhancing economic competitiveness and high-income economy. The speakers were Datuk Nicholas Zeffreys, President of the American Malaysian Chamber of Commerce, Dato’ Dr R. Thillainathan, Past President, Malaysia Economic Association and Council Member of WOU, Mr Aimi Aizal Nasharuddin, President and Co-Founder and Group Exco of Skali and Mr Teoh Kok Lin, Founder and Chief Investment Officer of Singular Asset Management Sdn Bhd. This panel discussed enhancing economic competitiveness and high-income economy.
 
The first session summed up that a paradigm shift in the mindset of Malaysians should be the main priority in achieving a high-income economy. The way of skills and operations management needs to be overhauled in Malaysia. There should not be a ‘hammer and nail’ policy.
 
The second session was moderated by the Director of CPPS, Ms Ng Yeen Seen. This session discussed developing creativity and innovation, rethinking human capital development. The panelists were Datuk Dr Denison Jayasooria, Member of the National IT Council and Principal Research Fellow from UKM, Mr U.K. Menon, Deputy Vice Chancellor of WOU, Prof Norma Mansor, Secretary to the NEAC and former Dean of Economics, UM and Tunku Alizakri Raja Muhammad Alias, Deputy Director of Strategic Management Department, Bank Negara Malaysia.
 
The second session concluded that the people’s will is vital in developing human capital. To allow creative and innovative minds to succeed, we need to have a sound environment and quality education should be given strict attention. Foreign capable talents should be retained to contribute to our economy as we have invested in their education as well. We should reap what we sow and not allowing massive ‘brain drain’.
 
Dato’ Mah Siew Keong, the Chairman of SEDAR Institute gave the closing remarks that we are at a crossroads, we either swim or sink, and we cannot be trapped in the middle-income trap phenomenon. Political will is important to execute implementation.
 
The forum ended with a late tea break and an informal networking session. Overall, the participants felt that it was a good start to engage the public regarding the NEM.

Report: http://sedar.org.my/documents/event/1st-stage-of-the-new-economic-model-nem/view.html

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