Promote innovation and technology to compete globally - PM - MIDA | Malaysian Investment Development Authority
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Promote innovation and technology to compete globally – PM

Promote innovation and technology to compete globally – PM

09 Sep 2023

Malaysia must promote local innovation and technology to be able to compete with countries in the region and on the world stage, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia sat at the 36th spot out of 132 nations in the Global Innovation Index in 2022, adding that innovation activities must be made a priority in developing the country’s economy.

“We need to learn from other countries. According to the United States’ Chamber of Commerce Foundation, about half of the US’ gross domestic product value is due to the increase in innovation.

“China has also intensified their innovation efforts. In 2020, the Information Technology and Innovation Foundation said China’s innovation has grown to about 75 per cent of the US’ capability.”

He said this in his speech, read by Science, Technology and Innovation Minister Chang Lih Kang, at the closing of the Innovation Exhibition 2023 here, today.

Anwar said at the Asean-India Summit in Jakarta, he had suggested for India’s extraordinary success particularly in digital banking and finance in rural areas to be shared for the benefit of all Asean member nations.

“Taking their example, we must develop and market local innovative solutions, guide local talents and further focus on sustainable innovative solutions.

“Industry players should also work towards finding innovative solutions that can lower cost, become more efficient, and further benefit society.”

Anwar also said the data centre industry needed to have the ability to switch to green energy, as it was important to encourage more parties to take sustainable initiatives and further neutralise carbon emissions.

The automotive industry, he added, should be among the main contributors towards achieving net zero carbon.

“Under the National Energy Transition Roadmap, we have also outlined efforts to transition towards green technology involving the automotive sector,” he said.

He also said the Madani government would continue to support research, development and commercialisation of local companies and startups to help them achieve success both locally and internationally.

The government would also facilitate the industry by bringing in investment and support the use of technology through automation, artificial intelligence and machine learning to increase productivity.

“At the same time, the government will also support local talents and innovators that want to expand their businesses whether in Asean or further.

“It is time for us to uplift and guide local innovators to make a name for themselves.

“We want to raise the name and dignity of Malaysia to be a country that is innovative, developed and sustainable with a society that is bright and ready to face future challenges,” he added.

Source: NST