to mind : first, we must make best use of the resources which we are endowed with, such as to process commodities into chemicals and other derivatives to increase economic complexity. agriculture productivity can also increase by adopting modern farming. second, addressing climate change offers opportunities to attract investments and create high - quality jobs. the global economy needs usd23 trillion in green assets to meet the climate goals under the paris accord. 4 third, malaysia is among the best positioned within southeast asia to embrace the fourth industrial revolution. 5 malaysia already has one foot through the door in each of these opportunities ; we are major producers of petro - and oleo - chemicals, solar panels, as well as e & e components that will power future mobility. we must engage in serious conversations on moonshot strategies to build innovative industries and companies. only then can we set the foundation for a sustainable, dynamic and competitive malaysian economy. a society that is more inclusive economic growth does not necessarily go hand in hand with social progress, particularly if growth only enriches the few. thus, my second point is on improving social inclusivity. malaysia has made great strides in eradicating poverty. this is the result of numerous efforts to meet the needs of society ’ s most vulnerable, and to provide them with opportunities for upward social mobility. nevertheless, the covid - 19 crisis reminds us that shocks affect different segments unevenly, and this has clearly exposed gaps in our social protection system. it is therefore critical to accompany the transition to high income with efforts to close these gaps. the growing economic pie will provide the state with more capacity to deepen its social protection. we must use this space to future - proof the system to impending structural changes : malaysia will transition to an ‘ aged nation ’ status, with the old - age dependency ratio expected to increase to 16. 6 % by 2040. however, in a 2018 employees provident fund study, two out of three active contributors are projected to have insufficient retirement savings to meet a minimum pension of rm1, 000 per month. 2 / 4 bis central bankers'speeches the nature of work will evolve, as we transition to a more knowledge - based, service - based and gig - based economy. work arrangements are expected to become more flexible, and provisions must be made to ensure that workers remain adequately protected. notably, provisions for shorter and more flexible working hours may entice women to participate in the labour force. the third change is the displacement of certain jobs, as we

would propel malaysia into becoming a vibrant, innovative and competitive international islamic financial services industry supported by high calibre human talent, world - class infrastructure and best international standards. building on what we have, we need to create a global brand to be promoted more aggressively in the global arena. this will be key to penetrate markets as well as to attract global players to our shores, henceforth enhancing the viability and sustainability of malaysia's islamic financial system. malaysia will embark on more strategic promotional and marketing efforts through greater collaboration and smart partnership. mifc will be our global brand. on this note, on behalf of the hosts and organisers, i would like to thank the distinguished panellists and moderators, media and the respected audience for making this forum a success, and i hereby declare the forum officially closed. thank you.