social protection in the face of labour displacements, it will reduce the need for large - scale ad hoc measures in times of crisis. one challenge that faced us as we recovered was the difficulty in dialling such measures back. though these were meant to be temporary to address immediate concerns, their direct short - term benefit made them immensely popular with many despite the long - term perils that they pose. striking the right balance between the short - term needs and long - term sustainability became a formidable task, reminding us that in policymaking, foresight is just as crucial as adaptability. all of these lessons apply not only to the covid - 19 pandemic crisis, but to the challenges to come. like the world bank, we at bank negara understand that beyond incorporating these new data into our ongoing research, it is essential that we publicise our findings and discuss where we go from here. if we want to be more resilient as a nation, reforms must be driven and supported from all sides, not just by one institution. for us, this means publishing our research as box articles in our flagship publications every year in march and frequently sharing simplified versions of them on social media. a few weeks ago, we held the sasana symposium, a one - day gathering dedicated to discussing structural reforms with our diverse universe of audience a€ “ not just our fellow economists but also youth leaders and social activists. i say this not to toot our own horn. public and frequent engagements with stakeholders on long - term reforms are vital. they keep us from being complacent and forgetting what could come back to bite us when we're least prepared for it. and they do have practical 2 / 3 bis - central bankers'speeches results. for instance, we have always advocated for measures to promote a skilled labour force and create jobs with higher wages. as we stay focused on these goals, they remain on the radar for others as well, with the prime minister announcing allocations for labour upskilling as part of the madani economy framework, alongside measures to discourage too much reliance on low skilled foreign labour. hence, i am a strong advocate of events like today's, which simultaneously shines greater light on important research and advances in a practical way. ladies and gentlemen, policy lessons need not be dreary examinations of what went right and wrong ; they can be engaging tales that inspire innovation and collaboration. as we progress through this event, let us challenge ourselves to question

make 1 / 2 bis - central bankers'speeches reforms a reality. the symposium will discuss both immediate issues, such as strengthening external resilience, as well as long - term structural issues such as our labour market and the role of finance in our economy. ladies and gentlemen, sasana symposium is more than just keynotes and in - depth, technical discussions. the symposium is also about demonstrating how reforms and policy are more than just abstract concepts and ideas, about how reforms can make a positive impact in the lives of malaysians. for example, itekad, a social finance programme which we launched at the height of the pandemic has been making inroads. we're happy to share today that over six thousand small and micro businesses have benefitted from itekad, with them seeing almost a 90 % increase in monthly sales and creating job opportunities in their communities. i would like to invite you to drop by the itekad marketplace – just outside our museum and art gallery – to meet microentrepreneurs that have gained from the itekad programme. itekad is a human example of how the public and private sector can come together to make a meaningful, lasting impact in the lives and livelihoods of malaysians. ladies and gentlemen, to conclude, sasana symposium was originally conceived as a platform for discussing key issues and research of our flagship publications – the annual report, the economic and monetary review and the financial stability review. our experience last year proved that this was an impactful occasion for us to engage the public in meaningful dialogue, and exchange perspectives on our work and thinking to promote monetary and financial stability for sustainable economic growth in malaysia. my hope is that you will leave sasana symposium with a better appreciation of what we do, and your part in helping us secure a better future for all malaysians. thank you. 2 / 2 bis - central bankers'speeches