chapter 6 - Malaysia Productivity Corporation ( MPC)

MALAYSIA AND INTERNATIONAL COMPETITIVENESS
that intensified the development of the innovation
ecosystem must keep pace with the rapid changes
in the global economic architecture and remain
competitive.
In achieving an innovation-driven economy,
Malaysia faces challenges of rapid value diffusion
of new technologies in moving up the global
innovation value chain, narrowing innovation
wealth gap and competing with developing
economies that are also pursuing aggressive
strategies to enhance their innovation ecosystems.
Malaysia needs to leapfrog in terms of innovative
capacity and economic development. It needs to
deal with challenges to drive economic growth
to a higher level. Some of the initiatives include
developing high quality human capital who are
knowledgeable, skillful and talented to meet the
current market demand.
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Malaysia must continue its efforts in enhancing
the nation’s competitiveness performance. This is
crucial in the context of achieving the high income
economy status by 2020. In this regard, Malaysia
needs to address the following challenges:
i) Intensifying the contribution of new
sources of growth in pursuing economic
transformation;
ii) Modernising business regulations for
business efficiency, productivity and
efficiency;
iii) Retaining and attracting world class talent
to strengthen innovation capabilities;
iv) Intensifying R&D activities and
commercialisation especially in high end
industries; and
v) Enhancing technological infrastructure for
higher growth in economic development.