An innovation-driven economy will
enable the nation to further develop its science and technology sector making
it a force to be reckoned with globally. This needs to happen if the country
aspires to surge ahead of countries already famous for their science and
technology prowess, like South Korea and Japan. Another factor to achieving
such prowess is to stem or reverse Malaysia’s brain drain — it’s loss of
experise to other nations. A fledgling innovation economy in the country would
open up opportunities for local talents, thus reducing the brain-drain problem.
Our Minister of Science,Technology
and Innovation, Datuk Dr Maximus Ongkili is also reaching out to talented
Malaysian overseas to encourage them to share their knowledge and expertise
with their counterparts in the science and technology sector at home. In our
country certain research areas, such as aerospace, cybersecurity and nuclear
power, could do with contributions from talented scientists residing overseas. The
ministry has modified its brain-gain programme to make it more appealing to
Malaysian experts working overseas and offering better monetary rewards, it is
also leveraging on social capital to woo these people to work for the country.
As an added measure to encourage
innovative thinking among Malaysians, the ministry will be rolling out the
National Innovation Foundation soon, and has declared 2010 as the year of
creativity and innovation and the most important is the ministry be will
provide a platform for any Malaysian to present ideas.
Malaysian executives view
innovation as a strategic priority in their businesses, according to the
findings of a survey conducted by General Electric (GE). The GE Global
Innovation Barometer provides valuable insights into the minds of these
executives and what they view as the opportunities and gaps in creating an
innovative and sustainable business model in line with Malaysia's aim towards
becoming a high-income nation by 2020.
According to the survey, 85 per
cent of the Malaysian respondents reported that their businesses were
increasingly looking at colloborative innovations. The survey showed that over
88 per cent respondents believed that small and medium-sized enterprise and
individuals could be as innovative as large firms. Dean said Malaysians thought
highly of the government policies but word has not sufficiently gotten out
globally of the incentives and the conducive policies that are available here
in Malaysia. He said 65 per cent of Malaysian business executives reported that
Malaysia has a strongly innovation conducive environment.
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