Sunday, 10 February 2013

“ Why Malaysia has to be innovative to compete globally? "


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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