Learned minds: Sultan Nazrin (left) receiving a copy of the book from UM Vice-Chancellor Prof Datuk Dr Mohd Hamdi Abd Shukor at the Asia-Europe Institute auditorium at the university campus in Kuala Lumpur. — Bernama
KUALA LUMPUR: Political stability is most crucial for Malaysia to move forward effectively, says Perak Ruler Sultan Nazrin Muizzuddin Shah.
He said political stability would allow planners to focus more on the longer term, and put into place the policies and measures that are necessary, in turn, to build confidence among investors.
“In the turbulent current global context, it may no longer be enough to rely on the same types of policy prescription that have served us in the past,” he said yesterday at the launch of the book Malaysia’s Leap into the Future: The Building Blocks Towards Balanced Development at Universiti Malaya yesterday.
It was organised by the university’s Asia-Europe Institute.
The editors of the book are UM’s professors of economics Prof Dr Rajah Rasiah, the late Prof Dr Cheong Kee Cheok and Tan Sri Dr Kamal Salih.
Sultan Nazrin, who is UM chancellor, said the book provides an in-depth examination of current economic and social conditions, as well as the new developments and elements that the country must embrace to remain progressive and vibrant.He spoke of the emphasis on planetary health, where people’s health and well-being are inextricably connected to those of the planet.
“This notion of planetary health calls for a very different approach to development and growth – one in which we must strive to create conditions that allow both humanity and the natural systems that we depend on to thrive, now and in the future,” he said.
He said economic growth could not remain as the only developmental goal, especially at the expense of the planet.
Sultan Nazrin said the country must find alternative means to prosper, bringing in fresh approaches such as that of the circular “doughnut” or “mission” economy to build economies that work for the planet as well as its inhabitants.
Meanwhile, Prof Rasiah said the book would serve as a good companion to the captains of the country so that Malaysia could sail into the future with greater certainty towards balanced development.
The book discusses the development of Malaysia, including topics like reducing poverty and income inequality, managing population and urbanisation, promoting technological progress and education, improving finance and labour, protecting the environment and providing good healthcare.
It also includes discussions on the decline of the agricultural sector and Malaysia’s economic growth compared with other countries in the region, and how they all relate to government policies, suggesting using a needs-based approach instead of an ethnic-based one to build a more pluralistic society.
