00:00Now, I'm stressing the importance of the entire team, the effort of political leaders, government
00:20ministers in particular, with the private sector, academicians, the professionals and
00:26experts in various fields. And clearly, the chamber and your team has an important role
00:38to give your views because of the, not only the uncertainties, but to ensure that we become
00:45the dynamo to propel the economy, attract investments, and ensure that we give our best.
00:56These adjustments are necessary. Well, they say because of the recent pronouncements by
01:02President Donald Trump, not necessarily so. In the economic term, there's always phases
01:10where there is this necessity to undertake some measures, changes, new technology.
01:23The AI dictate and demand us to make major adjustments in the entire system. Education.
01:31Now, we talk about data center and the AI, slow change in education, nothing in the public health
01:37sector, or no new incentives to allow Malaysia to become more attractive as an
01:52investment destination, that it will not work. So, it is more a systemic approach
01:59that requires the thinking, the expertise, the input of all. So, what I am trying to suggest
02:06is to appeal to all, to give your best, because this is an opportunity.
02:13Not always that political leadership takes a very open, liberal view to accept,
02:23to learn from one another, and to be considered to be part of this big team.
02:29And geopolitical conditions, other than AI, again dictate us to make the necessary adjustments.
02:36I've always felt that we must start at home, which means the political system,
02:45the issue of governance, all that needs to be done to ensure that we are efficient,
02:53we have clarity and correct policies, we have to do. Don't talk about problems outside.
03:01There are some issues that is beyond us, are somewhat unsurmountable,
03:09not within our means and capacity, but there are. What are those? The correct policy prescriptions.
03:19Are we making the right emphasis, focus on energy transition? Are we taking major
03:26measures to ensure that the digital transformation is working? Is AI going to give us the benefit?
03:36And are we prepared in terms of our educational strategy, our focus, our disbursement of funds,
03:43our training that can make us really an effective nation in terms of utilising this new technology?
03:56These are all issues that we need to hear, and then at a fast pace,
04:05take it up and make the necessary change. We don't have the luxury of time.
04:14We are not living in the 60s or 70s, and geopolitical dictates are sometimes beyond us,
04:23but the domestic policies and economy can be our major focus. I'm not saying that we can act
04:33independently, oblivious to the changes, no, but there are areas that we need to improve,
04:42including our level of efficiency, the fast track of approvals,
04:48cleaning up the mess, raiding the country of corruption and these abuses of commissions,
04:56making sure that decisions are made transparently. These things are within our means,
05:03and it takes the effort, the resolve of all of us, and that's why I'm suggesting again
05:18both the bureaucrats and the business community and the academia, together with the political
05:24leaders, to consider ourselves this new team of making this major breakthrough to ensure that
05:31Malaysia emerges as a very important economy, all within our means, accepting the fact that we are
05:39a relatively smaller country. But we have that capacity. I was very pleased, for example,
05:48with the exchanges that we have. We continue. With China, of course, excellent. Even the United
05:55States will continue to engage, contrary to some views. They will not know we are ambassadors here,
06:03and in Europe, it was an exceptional reception that we received. They agreed to proceed with
06:11this fast track FTA with the EU, which was certainly out of question in the last few years.
06:19With the UK, we had an excellent meeting with Prime Minister Keir Starmer,
06:24concluded the FTA with the UK, which means their investment, see our investment there,
06:31will benefit immensely through the sort of facilitation by the trade agreements.
06:39That we will do, and we will continue to do. And as I mentioned, the idea that we promoted
06:47to have ASEAN GCC with Chinese presence, and we are now thinking of opening up
06:57to allow participation of other countries, including the United States, the European Union.
07:06But the focus is, of course, the region. The region means ASEAN and our neighbours.
07:15And because of the reception and the friendship shown by China, we are reciprocating as great,
07:24trusted friends. You have seen, for example, the visit by Premier Lee Chiang,
07:33and the commitment that they give. Of course, we as a nation would welcome that.
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