High productivity leads to elevated wages for citizens, increased profits for businesses, and greater tax revenue for the government. Malaysia holds significant potential for strong productivity growth, with a targeted annual growth rate of 3.8% (2024-2025).
Malaysia Productivity Corporation Director General Zahid Ismail said achieving this aspiration is within our reach through the following concerted efforts:
Upskilling: Individuals need to engage in both formal and informal education to acquire the knowledge and skills necessary for remaining competitive in a job market that is constantly evolving. Malaysia aims to raise the Mean Years of Schooling performance indicator in the Human Development Index to 12.5 years by 2030, up from the current 10.6 years.
Technology Adoption: Companies should adopt modern management practices, digital technologies, and automation to enhance efficiency. The goal is to elevate the Digital Technology Index to the 12th position by 2030, progressing from the current 33rd place among 64 countries.
Effective Policies and Regulations: Policymakers must ensure that the policies and regulations they design and enforce are not overly burdensome for both individuals and companies. Malaysia has set the ambitious goal of achieving the 12th position in the Global Competitiveness Index by 2030, a significant leap from its 27th position in 2023
Productivity drives transformation at individual, organisational, industry and national levels. Through a shared understanding and active participation in collaborative efforts to boost productivity, we can pave the way for a more prosperous, joyful, and sustainable future.
