The Star Online on Nostr: The three pillars that Malaysia needs to improve ========== Malaysia needs to improve ...
The three pillars that Malaysia needs to improve
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Malaysia needs to improve in three key areas: technology, research and development (R&D), and digital products. While Malaysia has performed well in trade, particularly in the manufacturing sector, it lags behind in these other areas. The Toulouse School of Economics Centre of Collective Learning director, Prof Cesar A. Hidalgo, highlighted that Malaysia is not a big exporter of digital products and ranks low in technology and R&D. Prof Tan Sri Noor Azlan Ghazali, director of the Malaysian Inclusive Development and Advancement Institute, noted that research is primarily conducted at the university level, with limited involvement from corporate players and industries. The lack of a strong knowledge base and research capabilities hinders Malaysia's ability to generate and export products. Additionally, the article discusses the challenges of capturing digital trade and the need for Malaysia to focus on manufacturing rather than just assembling products. The article also mentions the importance of rewarding talents and attracting skilled migrants to strengthen the country's complexity and promote economic growth. The New Industrial Master Plan 2030 (NIMP 2030) aligns with PNB's three-year strategy to position Malaysia as a high-income economy with greater economic complexity.
#MalaysiaEconomy #EconomicComplexity #Nimp2030
https://www.thestar.com.my/business/business-news/2024/07/05/the-three-pillars-that-malaysia-needs-to-improve
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Malaysia needs to improve in three key areas: technology, research and development (R&D), and digital products. While Malaysia has performed well in trade, particularly in the manufacturing sector, it lags behind in these other areas. The Toulouse School of Economics Centre of Collective Learning director, Prof Cesar A. Hidalgo, highlighted that Malaysia is not a big exporter of digital products and ranks low in technology and R&D. Prof Tan Sri Noor Azlan Ghazali, director of the Malaysian Inclusive Development and Advancement Institute, noted that research is primarily conducted at the university level, with limited involvement from corporate players and industries. The lack of a strong knowledge base and research capabilities hinders Malaysia's ability to generate and export products. Additionally, the article discusses the challenges of capturing digital trade and the need for Malaysia to focus on manufacturing rather than just assembling products. The article also mentions the importance of rewarding talents and attracting skilled migrants to strengthen the country's complexity and promote economic growth. The New Industrial Master Plan 2030 (NIMP 2030) aligns with PNB's three-year strategy to position Malaysia as a high-income economy with greater economic complexity.
#MalaysiaEconomy #EconomicComplexity #Nimp2030
https://www.thestar.com.my/business/business-news/2024/07/05/the-three-pillars-that-malaysia-needs-to-improve