KUALA LUMPUR, Oct 11 — The care economy, which has been rapidly expanding across Southeast Asia in recent years, has the potential to generate multiple streams of income.
State executive councillor for women's empowerment and social welfare Anfaal Saari said the care economy is not only a strategic sector but also an economic catalyst for enhancing productivity, social well-being, and recognising women’s roles within the care sector.
“The Selangor Care Economy Policy 2024-2030 represents the state government’s commitment to making the care economy a key pillar of its economic and social development.
“Selangor has also established a Special Committee on the Improvement of Care Centres to standardise guidelines for childcare and elderly care centres across the 12 local authorities,” she said.
Anfaal was speaking as a panel member during the 'Investing in the Future Care' forum of the Selangor International Care Summit, part of the Selangor International Business Summit at the Kuala Lumpur Convention Centre (KLCC) yesterday.
She added that the state government is also developing a care economy ecosystem through innovations based on digital technology and the gig economy to provide a skilled workforce for elderly care.
“One interesting example is Teman Malaysia, a company offering elderly care services via a mobile app.
“A total of 10 start-up companies have joined the Selangor Care Accelerator Programme, which provides advocacy, promotion, and funding support for these start-ups. Among the participants are Teman Malaysia and Swyfted.
"This exemplifies how Selangor is building an ecosystem to foster innovation within the care sector,” Anfaal said.
The inaugural summit, a three-day event which began on Thursday (October 9) and ends today, is a key step towards realising the vision of making Selangor the Asia-Pacific region's care hub.
The summit features four main components: the Care Townhall Session, the Care Forum, Compassionate Business Matching, and the Care Expo, involving 54 exhibitors, including international participants from Finland, Japan, South Korea, Indonesia, Australia, and India.
Exhibitors are showcasing a wide range of skills, products, and innovative care technologies, highlighting the growing business potential within the expanding care economy.
