Malaysia set to focus on digitalisation of businesses

The government is aiming for all research, development, commercialisation, and innovation initiatives to be aligned with national interests.
By: | September 29, 2021

The Malaysian government is set to focus on the digitalisation of the public sector and the digital transformation of micro, small and medium enterprises, as part of its 12th Malaysian Plan on strengthening growth catalysts. 

It also plans to develop an ecosystem to support the growth of the gig economy. In line with technological developments and innovation, all research, development, commercialisation and innovation initiatives will be aligned with national interests, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

Some 50% of the government’s research funds will go towards experimental research with the potential to be commercialised, he added. 

To that end, a dedicated Research Management Unit has been established to ensure the streamlining of  research, development, commercialisation and innovation initiatives and strengthen collaborations among the industry, academia and government across various sectors.

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Also in the government’s plan, is the aim to eradicate hardcore poverty by 2025. It intends to continue targeted cash assistance and social protection for those eligible, and further enhance  the Urban Community Economic Empowerment and the Rural People’s Well-being Development Scheme to improve the purchasing power of those in the lower-income group.