Kuala Lumpur — The Deputy Minister of Investment, Trade and Industry (MITI) was present at The Rotary Club of Malaysia’s Group 12 Interclubs Meeting, which seeks to promote a better and deeper understanding on Malaysia’s competitive economic landscape. Attended by more than 100 Rotarians and guests, the event focused on discussing the country’s economic landscape and future prospects, drawing on Liew’s latest publication entitled the Second Takeoff.
In his keynote address, Liew emphasised the country’s strategic advantages in the shifting global manufacturing paradigm as he pointed out that higher-end manufacturing plants are increasingly establishing operations in Malaysia, which positions the country as a competitive player in Southeast Asia.
Challenging the perceptions of Malaysia as merely “Vietname plus,” Liew suggested that it should be instead viewed as “Singapore at a discount” due to the country’s strong infrastructure, common law framework, and significantly lower costs of living and doing business compared to Singapore.
“Knight Frank recently reported that office rentals in Central Prime Territory Kuala Lumpur are just 15% of those in Singapore—an 85% discount,” Liew noted, illustrating Malaysia’s competitive edge.
Addressing concerns about talent availability in Malaysia, Liew acknowledged that the challenge lies not in a shortage of skilled workers but in wage competitiveness. He argued that as investment flows into the country, companies will be compelled to offer higher wages to attract and retain talent. “When you compete for workers, you’re prepared to pay more,” he stated.
Liew highlighted that discussions on talent often overlook valuable sources, such as women. With women comprising 65% of public university enrolments and holding a significant portion of civil service and leadership roles, he encouraged a broader perspective on talent cultivation.
The Deputy Minister also addressed the paradox of over a million Malaysians working in Singapore, often in roles that do not reflect their qualifications. He suggested that Malaysian employers could attract returning talent by offering competitive wages—around two-thirds of what is offered in Singapore. “If a 30-year-old engineer in Penang is offered a comparable salary, many would seriously consider returning,” he remarked.
The evening concluded with a lively Q&A session, allowing attendees to engage directly with Liew on various topics, reinforcing the Rotary Club’s commitment to fostering dialogue on national and economic issues.
