MALAYSIA must give priority to innovation activities to boost its economic growth, Prime Minister Anwar Ibrahim said.

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 on 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 in Cyberjaya today, Anwar said Malaysia should learn from other countries in promoting innovation activities.

He said China, for example, had increased its efforts towards innovation, and in 2020, the Information Technology and Innovation Foundation reported that China’s innovation capabilities had reached about 75% of those of the United States.

He said at the recent Asean-India Summit in Jakarta, he had suggested that India’s remarkable success in digital penetration, especially in banking and finance in rural areas, be shared to benefit Asean member countries.

“Taking inspiration from them, we must develop and market local innovative solutions, nurture local talent and focus on sustainable innovative solutions,” he said.

“Industry players must also strive to find innovative solutions that can reduce costs, become more efficient and ultimately, benefit society.”

Anwar said the data centre industry needs the capability to transition to green energy as it is essential to encourage more sustainable initiatives and ultimately, neutralise carbon emissions.

He said under the National Energy Transition Roadmap, the government has outlined efforts to transition to green energy, including involving the automotive sector.

He said in line with the Madani Economy Framework, the government will continue to support research, development and commercialisation efforts of local companies and start-ups to help them achieve greater success and international recognition.

He said the government will also support local talent, particularly innovators, who wish to expand their businesses in the Asean region or beyond.

“It’s time for us to uplift and guide our innovators to make a name in the regional market and seize all opportunities out there,” he said.

“We want to elevate the status and dignity of Malaysia, to become an innovative, advanced and sustainable nation with a knowledgeable and prepared society to face future challenges.” – Bernama, September 9, 2023.