In the last few days, the Movement Control Order has awoken many to the fact that supply chains that we assume work without question, have now become highly critical. The establishment of a special taskforce to maintain critical supply chains by the current government is an excellent step to ensure that, what is currently a medical crisis doesn’t turn into a broader crisis.
Moving forward, and in light of the extended Movement Control Order, the battle to ensure that critical supply chains remain functioning will be fought on two fronts, food and medical supplies.
Critical medical equipment have become the weapons that front-liners are scrambling to get their hands on to fight the COVID19 pandemic. To date, we have stemmed the tide but every day that this crisis continues the ability to source complex equipment also increases in difficulty. To make informed decisions, a deeper understanding of the medical supply chain is needed to ensure that we don’t miss a step.
Several years ago, the nation moved rapidly towards Halal food production, this included increasing capacity in the agriculture sector and the manufacturing sector mostly driven by SME’s. Now we see the wisdom of that initiative, in this time of crisis it has pay dividends. Today we see the need for “strategic production” which may not be highly profitable but forms the vanguard that will buffer food supply requirements from any delays of international shipments.
While we have been able to identify certain gaps we need to intelligently, strategically and calmly move towards a sustainable future. I’m proposing that all stakeholders work together with the government to develop a “Critical Materials Policy”. Such a policy will assist the government and industry players plan for crises, to meet the needs of the economy and ultimately the people during critical times.
In what might seem a long way away, the “Post COVID19” world will see a change in the way countries increase their levels of self-sufficiency in critical areas. Money might be able to buy you a lot of things but during a global or regional crisis it will matter little if you can’t produce the critical items needed to deal with the crisis that has befallen your own nation.
With this in mind, investment planning will need to do more than keep one eye on the components of critical supply chains. The question will be, how will Malaysia be able to attract those investments onshore when companies will be looking to benefit from incentives from home nations to establish production there and how quickly can Malaysia develop domestic capabilities? There is much work to be done by all.
While we continue to take the advice of the Prime Minister to “Stay at Home” we still need to think globally about a sustainable future.
Nordin Abdullah
Founding Chairman
Malaysia Global Business Forum
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Upcoming Events
MGBF founding chairman Nordin Abdullah and UMW Toyota president Datuk Ravindran K. will delve into the convergence of automotive innovation and environmental sustainability in Penang, Sarawak, Johor and Pahang.
Hosted by menumiz™ – an end-to-end restaurant management system – this roundtable will feature a case study presentation and a panel session to discuss the latest digital trends, challenges, and opportunities within the food and beverage sector.
In this episode of 'A Working Lunch with Nordin', MGBF's founding chairman, Nordin Abdullah, will host this discussion focusing on the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will focus on regional food security issues and trends in the regional supply chain, and trade regulations and policies, including a new geopolitical tool i.e., weaponisation of supply chains.
MGBF In The News
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The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
