KUALA LUMPUR, Jan 9: The government is taking a globalist lens to culminate the 13th Malaysia Plan (13MP) to be launched this year, said Economy Minister Rafizi Ramli.
The minister said the global environment is changing, demanding more deliberate thought and action so that small, open, and non-aligned (SONA) countries like Malaysia take a high-stakes role on the world stage.
“In particular, SONA countries of Southeast Asia will play a vital role as the region’s profile, approach, and vision go against the global tide that is currently heading in the opposite direction,” he said in his welcoming address at the Forum Ekonomi Malaysia (FEM) 2025.
Therefore, Rafizi said Malaysia and Southeast Asia must recognise the unique differentiations they possess to carve their path in this defining decade.
Rafizi said the region has a unique demographic and growth profile, both now and in its projected state in the future.
“What is often repeated is the market size, that Southeast Asia’s 665 million population will grow to become the fourth largest economy in the world.
“The details of this shift, however, are equally as interesting,” he said, adding that in five years, the region’s middle-class population will double from two decades ago.
Rafizi highlighted that this would allow the middle class to emerge as the supermajority in Southeast Asia at 65 per cent, exceeding the population size of the United States and the European Union, making the region a consumer powerhouse with higher spending power and standard of living.
“Added to that is its youth and digital profile, as Southeast Asians will be younger, more entrepreneurial, and more digitally connected than other regions in the world.
“Even when other regions are expected to contract or slow down, Southeast Asia is still predicted to grow at a healthy pace of 4.0 to 5.0 per cent for the next decade,” he said.
Rafizi said the world could turn inward, change its rules, and demand choices and allegiances from smaller countries, but the minister called on the region not to change its approach by remaining champions of free trade, advocates for cooperation, and allies of pluralism and fair engagement.
He said for Southeast Asia to break out of its middle-income trap, which traditionally relied on low-cost, low-value labour, it must adopt and develop innovation, and innovation requires open and collaborative cooperation with others.
“That means this defining decade will see Southeast Asia go against the global tide by continuously seeking cooperation and partnerships with traditional and non-traditional allies based on pragmatic win-win parameters so that Southeast Asia’s growth is ensured.
“Lastly, in a world where politics is increasingly polarised and ideological, Southeast Asia’s relative political and policy stability looks like an attractive standout,” he said.
Rafizi added that, even though Southeast Asia has been criticised for its ineffective cooperation and lack of ideological unity, the past few years have shown that growth-oriented policies could survive through successive governments.
“The world would have to contend with Southeast Asia’s model, which looks very different from what is out there but has equal, if not higher, effectiveness in getting things done.-TVS
