YAB TUN DR. MAHATHIR SAYS THAT MALAYSIA MUST MOVE INTO A DIGITAL FORWARD ENVIRONMENT FOR BUSINESSES TO THRIVE IN 2020

Published by Kevin Chong @ 04/06/2020

How To Turn Crisis Into Opportunity - CCC Creative Talk Show

Creative Cloud Community (CCC) hosted a YouTube live talk show today, titled "How To Turn Crisis Into Opportunity," featuring the two-time former Prime Minister of Malaysia, YAB Tun Dr. Mahathir bin Mohamad where he shared ways to cope with business conditions that are profoundly affected by COVID-19, methods to make the best out unfavorable events and advice for the younger generation who wishes to pursue a career in the creative industry.

The host Natalie Sit, Acestar Group CEO and Founder of CCC, approached Tun Dr. Mahathir with a series of questions regarding the current economic and financial situations in Malaysia, to which he responded, "The great depression is partly already here, but it may get worse over time unless we learn to handle it. The cause is quite beyond our control as we do not have a vaccine to fight the virus."

Tun Dr. Mahathir told Natalie that for businesses to strive in these trying times, they would need to adapt to the new market conditions and requirements; They will need to be creative in using all their resources to their advantage. In this era, Tun Dr. Mahathir believes businesses will flourish through transportation as we live in a time where everything is automated, and the internet is the new way of marketing.

"Entrepreneurs must broaden and innovate their businesses to a higher reach through the web while making use of the available technology today. Online businesses are big, and they can become much bigger as people are not required to go to any shop physically to make a purchase," said Tun Dr. Mahathir.

YAB Tun Dr. Mahathir bin Mohamad

He believes that Malaysians should take the opportunity to incorporate technologies such as eCommerce, e-Hailing, online food delivery platforms, Data Technologies, eWallet Solution and even Virtual Live Talks in their day-to-day operations. The demand is always there; entrepreneurs must identify and meet these demands through online solutions as a new way to execute their businesses as the market is a "whole new world" now. Today, as a result of the pandemic, Malaysian manufacturers have supplied plastic gloves to the entire world; This opens up many export opportunities in Malaysia, and business owners should venture out into manufacturing and exporting Malaysian made products to other countries, especially neighboring countries in Southeast Asia.

Natalie Sit brought up the question regarding the younger generation of the importance of academic qualification versus industrial certification to getting jobs in the world today as the Cultural and Creative Industries (CCI) generated global revenue of USD 2,250 billion and created 29.5 million job opportunities in 2015 and making up 37% (USD743 billion) in revenue as well as 12.7 million job opportunities for the APAC region. Tun Dr. Mahathir replied that while academic studying is vital, it is just as important for people to have experience and skill in any industry; designing, for example, is especially important, as there are many opportunities right now, especially the finished products are dependent on creative designs and skillful ideas by computer generated-imagery (CGI). These creative and knowledgeable talents will be the future of Malaysia.

Natalie Sit, Acestar Group CEO and Founder of CCC

Tun Dr. Mahathir urges the younger generation to keep working for a monthly salary while observing and learning how to transform traditional businesses into a computerized business that they make their own in the future.

"I have seen wage earners eventually learn and observe and become successful entrepreneurs because of riding on the right digital opportunities. When there are challenges, there are definitely opportunities.” Said Tun Dr. Mahathir.

Then concluded by saying, “I am grateful to be able to live to the age of 94, I should be using my life usefully.”