Kuala Lumpur: Given the complexity of today’s business environment, companies must plan for not just growth, but resilience as well, said the Tunku Laksamana and former Regent of Negeri Sembilan, Tunku Datuk Seri Utama Naquiyuddin ibni Almarhum Tuanku Ja’afar.
According to BERNAMA News Agency, Tunku Naquiyuddin emphasized the importance for Malaysian companies to reassess their exposure to geopolitical risks. This involves not only diversifying export markets but also understanding supply chain vulnerabilities, financing channels, and technology dependencies. He noted that businesses treating geopolitics as an external issue disconnected from commercial strategy are taking unnecessary risks. He shared these insights during a special address at the Malaysia Economic Forum (MEF) 2025.
The MEF 2025, themed ‘Navigating the Future: Pioneering Economic Resilience and Green Prosperity’, successfully gathered over 100 high-level delegates from government, business, and academia. Co-organized by the KSI Strategic Institute for Asia Pacific and the Economic Club of Kuala Lumpur (ECKL), the forum focused on shaping Malaysia’s economic transformation amidst global volatility.
Tunku Naquiyuddin highlighted the need for a shift from passive compliance to strategic alignment, stating that environmental, social, and governance (ESG), data governance, carbon disclosure, and technology localization are becoming baseline expectations in global trade, investment, and procurement. Companies that regard these factors as peripheral risk exclusion from future opportunities, especially in higher-value supply chains.
He also stressed the importance of regional integration, noting that although ASEAN may seem slow-moving, it remains one of the world’s most open regions. Malaysian firms have the potential to lead cross-border partnerships, create regional platforms, and leverage investment incentives across various jurisdictions. However, the full potential of the ASEAN Economic Community remains underutilized by the Malaysian private sector.
Tunku Naquiyuddin urged businesses to stop treating technology as an abstract concept. Despite discussions on Industry 4.0 for nearly a decade, many firms still approach it with hesitation or confusion. Technologies like artificial intelligence, cloud computing, big data analytics, and digital platforms are not new, he pointed out.
He concluded by advising Malaysian companies to reframe their role in the national economy. The private sector should not be seen as a mere passenger in the development process but rather as a driver. Companies need to take ownership of outcomes, engage in shaping policy, and act with urgency akin to what they expect from the state.