Innovation

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 research and development have been identified as crucial to success in five of the 12 National Key Economic Areas targeted for transformation, including hydrocarbons and palm oil, as part of a strategy to move from labour-intensive to knowledge-based industries. Over the past few years, policymakers have sought to make the country more conducive to innovators and risk-takers. The 11th Malaysia Plan, which lays out the country’s economic path through to 2020, describes innovation as one of its game-changers. This chapter contains an interview with Mark Rozario, CEO, Malaysian Innovation Agency.