WIEF Roundtable, Penang, Malaysia Economic Rebound: Transforming the Future 27 September 2022


Aug  15th

Penang, 15 August 2022: The World Islamic Economic Forum (WIEF) Foundation will be organising its 17th Roundtable on 27 September 2022 at Setia SPICE Convention Centre in Penang, Malaysia. It is themed Economic Rebound: Transforming the Future. WIEF Roundtable Penang 2022 marks the first physical event by the Foundation after the pandemic and multiple lockdowns. This edition of the Roundtable is hosted by Penang State Government.

The Roundtable will feature five topics on prevailing issues in five sessions, namely:
1. Economic Revitalisation: Mapping a Sustainable Recovery
2. Net Zero Transition: Growing Urgency
3. Digital Transformation Revolution: Embracing Technology
4. Muslim-Friendly Tourism and Hospitality: Capturing Opportunities
5. Revitalising Waqf: Role of Islamic Finance

This Roundtable will bring together representatives of governments, organisations of both public and private sectors as well as prominent experts and stakeholders to address relevant issues and strategies pertaining to sustainable recovery in order to build a resilient and stable economy nationally, regionally and globally.

The sessions will feature local and international experts including Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation, Sharifatul Hanizah Said Ali, Executive Director of Securities Commission Malaysia and Madiha Fuad, Founder and CEO of PlusVibes.

COVID-19 pandemic caused a massive disruption globally and affected lives and livelihoods. Other ramifications include higher inflation, rising food as well as energy prices, slow GDP growth and slowdown in world trade. With the virus receding to endemic in most countries, governments and businesses are now exploring ways and opportunities to stimulate growth through various means such as digital transformation and business augmentation leading to more sustainable, resilient and equitable development.

For Penang, like in most places, the pandemic brought structural changes in terms of doing business. For example, consumer spending patterns, business operating models, supply chain management, talent attraction and retention strategies have to evolve to ensure longevity of Penang’s industries. Also, for them to continue to shine in the global arena.

Recognising that talent is the most valuable asset to drive economic growth, Penang aspires to attract 150,000 knowledge workers to the state over the next five years. Only with a future-ready talent pool, coupled with digitalisation and innovation, the state will be able to achieve high income economy status.

The Roundtable will generate much interest and awareness about the economic potential of Penang, a state of [1.7 million] population. It will highlight the rapid growth of Penang’s economy, despite the lockdown and border closures due to the pandemic. Undoubtedly, applying the right technology will help create a sustainable future, new employment opportunities and attract new foreign investors to the state.

What makes Penang an attractive investment location is its robust economy especially in industries such as IT, manufacturing and tourism. Thus, discussions of the Roundtable will showcase the multitude of digital transformations in trade as well as investment opportunities, within all its economic sectors.

The state’s strategic location in the northern part of Peninsular Malaysia has made it a thriving trading port since [17th century]. It continues to thrive today and its path to economic growth and rejuvenation is paved by interests and investments from local and foreign investors. The Roundtable will also discuss the multitude of trade and investment opportunities in Penang.

The event will be attended by Tuan Yang Terutama Tun Dato’ Seri Utama Ahmad Fuzi Abdul Razak, Governor of the State of Penang and YB Dato’ Ir. Hj. Ahmad Zakiyuddin Abd Rahman, Deputy Chief Minister 1. It is expected to attract more than 300 participants including key decision makers, state government leaders, CEOs, entrepreneurs and SMEs from all over the world. This event is a joint-collaborative effort with Penang State Government. It is open to public.

For more information, please contact Zaid Jamaludin at +6010 510 5400 or email: (zaid@wief.org).