Categories: EconomyNews

Muslim nations need to move beyond traditional frameworks


THE need to move beyond traditional frameworks and conventional wisdom amid challenges, exploring innovative approaches and cultivating new ideas will foster positive change in the Muslim world and beyond, said National Recovery Council Chairman Tan Sri Muhyiddin Yassin (picture).

Former prime minister stressed that we must embrace disruptive change as a catalyst of growth to be ‘future-proof’ in response to the ever-changing business and economic landscapes.

“A paradigm shift must be made by leveraging market opportunities with new innovations, reforming business models and disruptive technologies as potential game changer to accelerate growth of all sectors.

“The strength of human capital must be optimised by prioritising skills enhancement in the workforce, particularly in areas of high value growth such as technology, financial services, and energy. We must empower the young to pioneer this exciting new frontier as Muslims and Malaysians enter the ‘Metaverse’,” he said in his special address at the World Islamic Economic Forum Foundation Roundtable 2021 today.

According to Muhyiddin, in line with Malaysia’s Digital Economy Blueprint, the evolving roles of science and digitalisation have highlighted the importance of embracing digital transformation across various sectors.

“For instance, smart factories in the manufacturing sector enhance capabilities of domestic firms to make increasingly complex and sophisticated products at a minimal cost,” he added.


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