KOTA KINABALU (TUE): Amidst the global COVID-19 pandemic, the new normal of life has created a changing world order and shifting globalisation dynamics. The Institute for Development Studies (Sabah) (IDS) in collaboration with Sabah Ministry of Finance will be organising a Webinar entitled Living with COVID-19: New Mega Trends and Opportunities on Tuesday, 28th September 2021 at 3.00 p.m. via ZOOM.

As the world economy rebounds from deep economic contraction in 2020, industrial recovery is expected to move in tandem with the global economic growth and the emergence of global mega trends radically accelerated by the pandemic. “As part of the State’s strategy to rebuild its economy and lessen the implications of COVID-19 towards our social and economic structure, a thorough understanding of emerging regional and industry-specific growth opportunities is necessary for Sabah to gain leverage on its economic recovery,” said Mr. Anthony Kiob, CEO of IDS. He added that the industries in Sabah would be able to shift towards a sustainable recovery phase through in-depth understanding of the mega trends and global economic direction.

According Mr. Anthony, industry consolidation is forced to accelerate while there is now also a need to rebalance between efficiency and resilience especially in the supply chains and production processes. “The social and economic implication from the pandemic would place the State Government under increased pressure to revitalise and restructure the economy by adapting to current new industries that could boost quality investment, and garner high-income employment,” he further elaborated.

“On a broader aspect of historical and development growth, past global crises has acted as a trigger for substantial advancements, hence we should start planning and  diverging our resources to capitalise the mass opportunities created by the pandemic, in line with the changing world order and shifting globalisation dynamics,” stressed Mr. Anthony, adding that the upcoming Webinar serves as a platform of discussion to further understand the New Mega Trends and Opportunities going forward for Sabah, and seize and capitalise opportunities from such developments.

Mr. Edward Clayton, Partner in PricewaterhouseCoopers (PwC) will be presenting a paper entitled “Living with COVID-19: New Mega Trends and Opportunities” during the webinar.


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