Many of Malaysia’s Vision 2020 goals to develop into a high-income knowledge economy hinge on its ability to leverage the IT sector strategically and effectively. As in developed countries, the country’s IT backbone undergirds and acts as the foundation for the potential of a wide swathe of other sectors, from services and industry to tourism and banking. Although the sector is steadily...
Crucial to Malaysia’s economic development is the continued transformation of its industrial base into one predicated on high value-added products and driven by innovation, automation and increased productivity. Such a shift is important to ensure the country is well-placed to compete in an increasingly competitive and open global market, a trend exemplified by the commencement of the ASEAN...
Over the years, large-scale public and private projects have dominated the activities of the Malaysian construction sector, driven by governmental and investor efforts to implement successive five-year plans aimed at becoming a developed nation. The 11th Malaysia Plan (11MP), covering 2016-20, focuses on transforming the construction sector, among other economic areas. Detailed under four main...
The 11th Malaysia Plan lays out the government’s latest five-year development strategy, covering the period 2016-20. It is also the final five-year plan leading up to Wawasan 2020, the year by which the government’s vision to make Malaysia a high-income, knowledge-based economy is meant to be realised. For this pivotal period, the plan lays out initiatives for the transport sector including...
A series of economic reforms launched in 2010 support Malaysia’s 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 the Agensi Inovasi Malaysia (Malaysian Innovation Agency, AIM) to lead policies and strategies related to innovation. Additionally, innovation and...
With oil prices depressed and global economic activity slowing, these are undoubtedly challenging times for oil and gas companies, producers and countries worldwide, and Malaysia is no exception. Yet despite the downsides, these are also key times for the development of new resources and strategies in the sector, with Malaysia at the forefront of many renewable energy trends. Even as it makes...
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