What you can expect from Putrajaya’s first festival for financial literacy

Emmanuel Santa Maria Chin
Finance Minister Lim Guan Eng speaks during a media conference in Putrajaya December 12, 2019. — Picture by Shafwan Zaidon

PUTRAJAYA, Dec 12 — The Malaysian government is throwing a festival in the administrative capital at the end of this month to promote financial literacy and digital economy, Finance Minister Lim Guan Eng announced today.

A festival for financial literacy? What’s that, you say? Well, here’s what you can expect of the inaugural two-day LIFT (Literacy in Financial Technology) festival beginning December 28.

The imposing concrete, steel and glass Treasury complex in Precinct 2 will be turned into a “village” during the festival with many booths showcasing the latest financial information and technological advances on how to better manage your money in a  digital economy.

Financial experts will be on hand to explain the deluge of information that honestly speaking, many of us find complicated, confusing and overwhelming. 

Want to start or expand your business beyond Malaysia but think you lack resources? That’s precisely why the government is holding LIFT, to provide proper guidance to future entrepreneurs lost in the 21st-century maze of TMI (Too Much Information).

Lim said the festival has a three-pronged focus: money management, product packaging and a segment to show retailers how to move their business online and tap into a wider market to boost sales.

“The mastery of financial technology is very important in today’s business world, first and foremost, to ensure the quality of products are good.

“Packaging must also be attractive, even though we are selling nasi lemak or roti canai, it must look attractive,” he said told a news conference here on the festival.

Lim stressed that digital economy is integral to Malaysia’s economic growth, saying it is the platform of the future for businesses to expand trade and increase revenue.

“The festival is not just about enhancing financial literacy but also aims to empower the public, young and old, by providing the latest information on the latest financial and technological developments in the digital economy,” Lim said.

Lim also said that the government is looking to boost financial literacy by introducing courses and lessons in schools, adding that the Education Ministry will announce more on the subject at a suitable time.

“Fintech is here to stay and it is something we cannot avoid.

“So there are efforts by the Education Ministry to include financial literacy into the current syllabus,” he added.

The two-day LIFT will be opened by Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail and closed by Prime Minister Tun Dr Mahathir Mohamad on December 29.

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