CYBERJAYA, Sept 9 — Malaysia cannot afford to be left behind in the rapidly advancing digital and technological era and thus innovation activities need to be a priority in boosting the country’s economic growth, said Prime Minister Datuk Seri Anwar Ibrahim.
In fact, Anwar, who is also Finance Minister, said efforts to promote local innovation and technology should be intensified so that Malaysia can compete with neighbouring countries and the global stage.
In his speech text read out by Science, Technology and Innovation Minister Chang Lih Kang at the closing ceremony of InnoEx 2023 here today, Anwar said Malaysia should learn from other countries in promoting innovation activities.
China, for example, has increased its efforts towards innovation, and in 2020, the Information Technology and Innovation Foundation reported that China’s innovation capabilities had reached approximately 75 per cent of those of the United States, he said.
During the recent Asean-India Summit in Jakarta, Anwar suggested India’s remarkable success in digital penetration, especially in digital banking and finance in rural areas, be shared to benefit all Asean members.
“Taking inspiration from them, we must develop and market local innovative solutions, nurture local talents, and focus on sustainable innovative solutions.
“Industry players must also strive to find innovative solutions that can reduce costs, become more efficient, and ultimately benefit the society,” he said.
— Bernama
