Malaysia

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...

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...

In November 2014, Prime Minister Najib Razak announced that the country’s long-running system of fuel subsidies would be coming to an end in the following month. Over a year later, the expected pain that this move augured has been less than many had first feared. Former Central Bank governor Zeti Akhtar Aziz remarked as much in March 2016,...