Malaysia Economy

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While the first six months of 2016 have brought mixed results, Malaysia’s economy is expected to give an improved performance in the second half of the year, especially as remedial measures introduced by the government gain momentum.

 

Under the 11th Malaysia Plan (11MP), which lays out Malaysia’s economic path until 2020, manufacturers are being encouraged to undertake more research and development (R&D) to improve their products and processes. Since many Malaysian manufacturers are small, the government is also increasing the opportunities available to small and medium...

 

A series of economic reforms launched in 2010 aim to support Malaysia to reach its goal of lifting itself out of the middle-income trap and into the ranks of high-income economies by 2020. As part of the Economic Transformation Plan (ETP), the government established Agensi Inovasi Malaysia (Malaysian Innovation Agency, AIM) to lead policies...

 

How has Malaysia’s innovation strategy evolved over the last five years?

 

Although Malaysia has made great strides in nurturing innovation, as evidenced by its performance on the 2015 Global Innovation Index (GII), more needs to be done to translate ideas into action The country is now embarking on a comprehensive plan to address challenges in terms of commercialisation and provide companies and businesses with the...

 

The country is targeting its innovation initiatives in key industries, including agriculture, where it is expected to have a major impact. Some 88% of Malaysia’s palm oil crop is exported, and edible oil accounts for more than 5% of Malaysia’s annual exports. The plan is to move up the value chain to develop higher-end products like fuels and...

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