Bank Negara Annual Report 2017 stated that 2017 was a year of resurgence.  Improvements in the global and domestic economy exceeded earlier expectations with growth that was broad-based and synchronised.  This was inspite of ongoing political uncertainties in the major economies.

For Malaysia, the economy performed well.  It recorded a robust growth of 5.9% (2016: 4.2%) supported by expansions in both private and public sector spending.  Export growth surpassed expectations  increasing at its fastest pace since 2004.  The up swing in the global technology cycle resulting from the demand from Malaysia’s major trading partners, i.e. P.R. China, Asean, US, EU and Japan led to strong demand for our Electronics and Electrical products. (E & E).

Continuing from the stronger global economic conditions, the Malaysian economy is projected to grow by 5.5% – 6.0% in 2018.  Domestic demand  will continue to anchor this growth underpinned by sustained demand from major trading partners, favourable global commodity prices and the continued expansion in the global technology upcycle. 

This technology upcycle is part of the transformation that is fundamentally changing the way we live, work & do business.  The Fourth Industrial Revolution and Industry 4.0 is already impacting every level of society and business in the developed and developing countries.  Our Malaysian Government has been proactive in realizing this phenomenon and they have embarked on a plan for Malaysia to transform, adopt and embrace the new digital age.  This requires enormous collaborative efforts across multiple stakeholders and organisations.

Towards this end, MASSA is doing its part by embarking on awareness programmes to highlight some key areas as the digital ecosystem unfolds.  MASSA is pleased to work with change agents who are at the forefront of this challenge that includes Malaysia Digital Economy Corporation Sdn Bhd (MDEC), Penang and Selangor Human Resource Development Centre (HRDC).  Through the equipping of our corporates and the upskilling of the talents of our workforce,  we can continue to extend to our development partners in the South-South countries, a better value proposition that can translate to efficiencies, productivity and profitability.

I appreciate the continuing support and cooperation of all our Executive Committee and members and your participation in MASSA’s activities.
 

Tan Sri Azman Hashim
President