Economic restructuring: Something has to give way, says Rafizi
Economy Minister Rafizi Ramli says the challenge to restructure Malaysia's economy will not happen just by creating an economic framework.
Speaking as a panelist at the National Institute of Public Administration (INTAN) Minister’s Conversation (IMC) 2024 programme, Rafizi said any change from status quo requires mindset and cultural change, and it is not easy for a country that has set its views and practices for decades.
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Speaking as a panelist at the National Institute of Public Administration (INTAN) Minister’s Conversation (IMC) 2024 programme, Rafizi said any change from status quo requires mindset and cultural change, and it is not easy for a country that has set its views and practices for decades.
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NewsTranscript
00:00 [MUSIC PLAYING]
00:04 [NON-ENGLISH SPEECH]
00:30 [NON-ENGLISH SPEECH]
00:39 Business as usual.
00:41 [NON-ENGLISH SPEECH]
00:46 Something has got to give away.
00:49 The decision about who has to chip in
00:53 and how you manage to make sure that that decision does not
01:00 worsen whatever problems we have,
01:04 [NON-ENGLISH SPEECH]
01:05 disparity, and so on.
01:07 That is quite difficult.
01:10 [NON-ENGLISH SPEECH]
01:12 Any change from status quo--
01:15 [NON-ENGLISH SPEECH]
01:20 Any change from point A to point B
01:23 requires mindset and cultural change.
01:27 And that is not easy to do, especially for a country that
01:31 has set its views and practice [NON-ENGLISH SPEECH]
01:37 That, I think, no economist can factor in.
01:41 [NON-ENGLISH SPEECH]
01:56 It's also anthropological.
01:58 It's also sociological.
02:00 [NON-ENGLISH SPEECH]
02:01 We need to change the way we look at ourselves,
02:05 the way we behave.
02:07 And this is a big challenge.
02:10 [NON-ENGLISH SPEECH]
02:11 Can be a common sense.
02:23 [NON-ENGLISH SPEECH]
02:24 A program design challenge is scaling up.
02:51 [NON-ENGLISH SPEECH]
02:53 To us, so long as we spend that amount,
03:07 [NON-ENGLISH SPEECH]
03:08 The fact that 995 actually didn't meet the objective,
03:19 [NON-ENGLISH SPEECH]
03:21 Scaling up of any program is very difficult.
03:25 [NON-ENGLISH SPEECH]
03:27 And make sure that the pace of change is the same everywhere.
03:37 [NON-ENGLISH SPEECH]
03:39 [NON-ENGLISH SPEECH]
03:40 All this has to move as much as possible within the same pace.
03:59 [NON-ENGLISH SPEECH]
04:00 [NON-ENGLISH SPEECH]
04:01 These are the challenges.
04:17 [NON-ENGLISH SPEECH]
04:18 But that's the duty of kajal.
04:27 That's the duty of minister.
04:29 I don't think any one of us in the cabinet
04:34 sign up for the job thinking there is going
04:37 to be a walk in the park.
04:40 And I think [NON-ENGLISH SPEECH]
04:42 I tell myself every day there is a national service,
04:52 and you must focus on that delivery.
04:55 [NON-ENGLISH SPEECH]
04:56 It's a lot better for me to run banks or to be elsewhere,
05:09 because everything else is [NON-ENGLISH SPEECH]
05:11 So I think the challenges that we have now
05:21 requires one whole nation approach beyond just saying it.
05:26 [NON-ENGLISH SPEECH]
05:27 Because this is a challenge of a generation, which
05:45 I'm sure [NON-ENGLISH SPEECH]
05:49 I think I hope we will be able to see how big is the task
05:54 and why every single one has to chip in.
05:58 And that will moderate those four challenges.
06:02 [NON-ENGLISH SPEECH]
06:05 [MUSIC PLAYING]
06:08 [MUSIC ENDS]
06:11 [AUDIO OUT]
06:15 [AUDIO OUT]
06:18 [BLANK_AUDIO]