Malaysia to achieve 3.7 per cent productivity growth annually by 2020

KUALA LUMPUR: Malaysia is on track to achieve the target of 3.7 per cent labour productivity growth annually valued at RM92,300 per worker by 2020.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the country achieved labour productivity growth of 3.6 per cent in 2016, reaching 87.8 per cent, or productivity value of RM81,039, of the 2020 targeted level.

“With the nine Productivity Nexus initiatives led by industries and supported by government and academia ( in placed), we believe the country’s productivity will be further improved.

“This year, the Nexus has planned over 42 projects, among them documentation of best practices, industry profiling and development of online productivity tool kits,” he told reporters after officiating the Showcase on Innovation for Productivity ( SHIP) 2018, yesterday.

The Productivity Nexus is a centre of excellence relating to productivity and is the catalyst in implementing productivity initiatives.

Industries are encouraged to participate in the programme offered by the Nexus to further increase productivity.

SHIP 2018 showcases best practices from four strategic innovation partnership plat forms, namely the Ministry of Higher Education’s Public- Private Research Network, SIRIMFraunhofer Partnership, AIM- Steinbeis Foundation Malaysia, and SME Corp Bhd-- PlaTCOM Ventures Sdn Bhd.

During the 2015- 2017 period, SHIP has spent about RM200 million, benefitting 1,600 small and medium enterprises.

SHIP is an initiative under the purview of the National Oversight Productivity Council, which is part of the governance structure of the National Productivity Council. — Bernama