Laying the groundwork for innovative growth

loading

At a recent public lecture jointly organised by Khazanah Nasional Bhd and the Socio- Economic and Environmental Research Institute (seri), leading economists argued that Malaysia has the innovative potential to be much more competitive and productive.

During the talk at Wawasan Open University’s main campus on April 20, 2010, World Bank economist for Malaysia Philip Schellekens emphasised that “innovation is key for Malaysia’s longterm prosperity”.

Schellekens, during his presentation of World Bank’s April 2010 Malaysia Economic Monitor themed Growth Through Innovation, clarified that innovation potential can be dramatically improved by developing the capabilities for innovation, the driving force of innovation, and the amplifiers of innovation.

In the area of capabilities, he felt it was important to nurture, attract and retain talent, to upgrade home-grown technological efforts, and to improve access to finance for innovation because “in Malaysia, 40% of those who want to innovate cite lack of finances as a major obstacle to innovation activity”.


To read the rest of the article and to access our e-Archive, subscribe to us for RM150 a year.



Related Articles

FEATURE
Jun 2015

Building Batu Kawan Brick by Brick

P E Land aims to create the retail future of Batu Kawan – from scratch.

FEATURE
Nov 2014

Decentralisation offers solutions – and snags

A highly centralised government has certain drawbacks, but can decentralising the management of public goods result in a better Malaysia?

FEATURE
Jan 2012

Penang's Maritime Potential

Why hasn’t Penang been able to transform itself into a maritime hub?