Invest in education, business leaders urged

Business guru and Asian Institute of Management (AIM) and Sycip Gorres and Velayo (SGV) founder and chairman emeritus Dr. Washington Sycip has reminded business leaders to invest in education to ensure economic progress.

Sycip made this call during the working luncheon of the Philippines-Malaysia Investment Partnership Forum at The Royale Chulan hotel in Kuala Lumpur last May 29.

He said that it is not necessary to follow Western practices, and that Asian countries must not be afraid to follow its own paths suited to their needs and traditions.

Sycip’s talk was the maiden lecture of the Professor Gaby Mendoza Lecture Series, which will also travel around Asia to impart lessons on management. The lecture series was spearheaded by the AIM Alumni Association-Malaysia (Kelab AIM), which has some 4,000 Malaysians as members.

The event was part of the Philippines-Malaysia Investment Forum, which was jointly organized by the Philippine Embassy in Kuala Lumpur, Kelab AIM and the Asian Strategy and Leadership Institute (ASLI).

The AIM and SGV founder also noted the examples of South Korea, Singapore, Hong Kong and Taiwan-countries which are economically advanced, but did it without being politically free.

While he is not eschewing democracy and democratic practices, there is a need to first address economic growth to address the basic needs of the people.

He also noted that countries must invest heavily on education, particularly on science, mathematics, engineering and medicine to further bring economic progress.

During the same event, Malaysian fund management company Permodalan Nasional Berhad (PNB) Chairman Tun Ahmad Sarji Bin Abdul Hamid also received the first Dr. Washington Z. Sycip Achievement Award in Malaysia.

Tun Ahmad Sarji was given the award for his for his stellar career in public service and in steering the course of the PNB to where it is now.