As a driving force in Malaysia’s high-technology ecosystem, MIGHT serves the nation by playing a pivotal role in nurturing, expanding and building high-technology capacity through public-private partnerships. Given its mandate to advance the nation’s high-technology capacity, there is increasingly a steady stream of national and global exchange of ideas and innovation which helps localise R&D solutions, avail business opportunities and ultimately enhance the nation’s competitiveness. To maximise economic growth, the nation needs to accelerate the adoption of new technologies in tandem with the dynamic environment in which we operate. Malaysia’s performance in high-technology export is encouraging. In 2018, the nation had a total high-technology merchandise export value of USD90.36 billion, and a year-on-year growth of 22.0%. On the global front, Malaysia contributed 2.90% of the world’s total high-technology merchandise exports in 2017, up by 0.27% from 2016. There is aneed for businesses toharness scientific and industrial capabilities through technology-enabled transformations to spur growth in the Malaysian economy. To this end, a stable and coherent framework for technology-enabled transformation is critical. The combined impact of mapping future technology transformation growth prospects complemented by requisite strategies will see Malaysia well positioned to benefit from new sources of economic growth. Also critical is sustained growth which necessitates an ambitious innovation and growth strategy fueled by new technologies and tools with ideas propagated by the public-private partnership. Given the paramount role that technology and innovation plays in the progress of a nation, MIGHT is once again proud to showcase our second edition of the Malaysian Technology Strategic Outlook 2019/2020 which offers a broad perspective of high-technology industries in Malaysia and features our very own MIGHT FIRST™ analysis. Through MIGHT FIRST™ foresighting methodologies are employed to anticipate possible futures and steer preparedness in seizing opportunities and mitigating possible risks; a forward look that is both strategic and holistic in anticipating the future. With COVID-19 spreading across the globe, disrupting health, businesses and economies in an unprecedented way, existing business models may no longer be viable. Although the impact of COVID-19will linger for years tocome, thepaceof technology
innovation should not be compromised. On the contrary, the Government, industries and society should continue to swiftly respond to this disruption to minimise impact, recover and emerge stronger. This demands reinvigoration and resilience. Malaysia aspires to be among the top 30 innovative nations in the world by 2025. MIGHT’s pivotal role in spearheading the quadruple actors and driving transformational changes across industries, government ecosystems, academia and the civil society will continue to strengthen national innovation and promote sustainable and inclusive growth in Malaysia. We trust that the insights gained from this publication will provide the impetus for the development of requisite strategies to leapfrog other manufacturing countries; this by adopting cutting-edge approaches and offering new opportunities for local niche manufacturing. On behalf of MIGHT and the Editorial Team of the Malaysian Technology Strategic Outlook 2.0, we thank all members and partners of MIGHT for their contribution towards making this publication a success.
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Malaysian Technology Strategic Outlook 2019/2020 Intergration of High Technology
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