'WE CAN CREATE CREATIVE DEVELOPMENT ECONOMY' - M'SIAN SECOND FINANCE MINISTER

KUALA LUMPUR, April 18 (Bernama) -- "We can create a creative development
economy as opposed to the traditional winner-takes-all economy," this is the
message by Second Finance Minister Ahmad Husni Hanadzlah to the ongoing 124th
Inter-Parliamentary Union Assembly in Panama.
A creative development economy is a classical market-based economic model in
which the dividing line between the public and private sectors, in bearing
morally responsible outcomes, is not strictly defined as that in the traditional
model, he said in his speech, issued here Monday.
"In the creative development economy, shareholders returns are not defined
solely in monetary form but also in terms of the social good a corporation can
bring to the larger community.
"In this regard, governments can provide incentives and support for the
creation of corporate socially responsible programmes that promote the
development of a morally just and fair society," he said.
He said moral governance is about sharing power through a system of
checks and balances in order to achieve a set of desired outcomes; morally
responsible outcomes such as ethnic and gender inclusivity, equitable
distribution of wealth, and protection of the environment.
Moral governance can only come with an ecosystem that has the necessary
institutions, legislative and regulatory frameworks and a network of
supporting organisations, he said.