SEPT 16 — I had the honour of speaking at two sessions at the Milken Institute Asia Summit, one was a private session "Global Investors’ View: ASEAN” and the other, a public "Regionalisation, Re-Globalisation, and Supply Chain Transformation” session.

The supply chain reorganisation that is happening globally benefits Malaysia and other ASEAN economies.It is time for South-east Asian economies to collaborate to create a more integrated market and a more connected regional supply chain.

The idea of "vertical integration” is about South-east Asian economies complementing each other in the manufacturing value chain, and Malaysia occupies the indispensable middle as we have a skilled, educated and English-speaking workforce, good logistics, stable society, and a predictable legal framework.

Growth will be especially strong in re-industrialisation, green transition, and "TechUp”, by which I mean more automation, more digitalisation, more adoption of technology, as well as innovation.

This once-in-a-generation shift should also generate more jobs with better pay, and eventually create a strong middle class in South-east Asia in a decade’s time.If we succeed by then, South-east Asia would not just be a production site but also a consumption site, which is a big consumer market.

A job-led growth model will help Malaysia transform its economy and create a virtuous cycle of higher wage, higher productivity, and higher technology use.

* Liew Chin Tong is the Member of Parliament for Iskandar Puteri and Deputy Minister of Investment, Trade and Industry.

** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.