Malaysia'a labour productivity grew by 3.3 percent to RM74,538 per labour hour last year from RM73,091 in 2014, and has the potential to achieve growth of 3.7 percent in the next five years as targeted under the 11th Malaysia Plan.
International Trade and Industry Minister, Datuk Seri Mustapa Mohamed said the optimism is based on strong industry productivity growth recorded in several key sectors such as manufacturing, construction and services.
"To expedite our ambition in realising our full productivity potential, Malaysian businesses need not only increase investment in new technologies through adoption and diffusion of the latest innovations in ICT, machinery and equipment, but must also create opportunities for further export expansion," he said.
He told reporters this at the launch of the Productivity Report 2015/2016 published by the Malaysia Productivity Corporation (MPC).
Mustapa said the report further emphasised the utmost urgency to unleash the potential of greater productivity in Malaysia towards reaching the global frontier.
Among the strategies, he said are championing productivity and competitiveness by nurturing a competent, innovative and skilled workforce, leveraging on research and innovation, as well as increasing market competitiveness.
He said the report also called for the strengthening of entrepreneurial growth through skills enhancement and education towards greater operational excellence across the value chain.
Mustapa also said the government is currently working on a productivity blueprint which is expected to be completed in August.
He said the blueprint will look at 10 sectors with low levels of productivity, but played a very important role in the economy, such as tourism and retail.
The minister said another factor that influenced the productivity level is the performance of the country's overall economy.
He said when the country's gross domestic product growth moderated, productivity level shrank in parallel.
However, this can be offset by implementing automation and reducing dependency on foreign workers, he added.
Bernama
Thu Jun 16 2016
Manufacturing is one of the key sectors that has contributed much Malaysia's strong industry productivity growth.
SDG: UTP lahir pelajar berkemahiran, tinggi tanggungjawab sosial
UTP berhasrat mendidik pelajar bukan sahaja untuk mahir dalam aspek teknikal tetapi juga untuk menjadi warganegara yang bertanggungjawab.
MAA semak semula unjuran jualan kenderaan 2024 kepada 765,000 unit
Persatuan Automotif Malaysia (MAA) telah menyemak semula unjuran jualan kenderaan bermotor baharu bagi 2024 kepada 765,000 unit daripada anggaran sebelumnya sebanyak 740,000 unit.
RUU 355: Pindaan perlu untuk praktikaliti, keadilan
Apa sahaja pindaan terhadap akta itu perlu berjalan selari dengan persediaan mereka yang bertanggungjawab melaksanakannya.
Rasionalisasi RON95 dijangka beri impak lebih besar kepada PKS - SAMENTA
SAMENTA menjangkakan rasionalisasi RON95 akan memberi impak yang lebih besar kepada perusahaan kecil dan sederhana (PKS) berbanding pelarasan subsidi diesel.
Malaysia sasar pengeluaran 40 peratus sektor akuakultur menjelang 2030
Malaysia menyasarkan pengeluaran 40 peratus hasil sektor akuakultur menjelang 2030 dalam usaha membantu mengimbangi keperluan perikanan negara.
10 Berita Pilihan - (16 Julai 2024
Antara pelbagai berita dalam dan luar negara yang disiarkan di Astro AWANI, berikut adalah yang paling menjadi tumpuan sepanjang hari ini.
PAC beri tempoh tiga bulan kepada HRD Corp
Jawatankuasa Kira-kira Wang Negara (PAC) memberi tempoh tiga bulan kepada Perbadanan Pembangunan Sumber Manusia (HRD Corp) untuk mengemukakan laporan tindakan susulan terhadap syor jawatankuasa itu.
Kylian Mbappe tandatangan kontrak dengan Real Madrid
Bintang bola sepak Perancis Kylian Mbappe menandatangani kontrak selama lima tahun dengan kelab Sepanyol Real Madrid pada Selasa.
Pelepasan ketujuh air sisa nuklear Fukushima ke laut selesai
Jepun telah menyelesaikan pusingan ketujuh pelepasan air sisa radioaktif yang dirawat dari loji kuasa nuklear Fukushima Daiichi ke Lautan Pasifik pada Selasa.
Empat termasuk kapten maut dalam pertempuran
Empat anggota tentera India termasuk kapten meninggal dunia akibat kecederaan selepas pertempuuran pada malam isnin di Hutan Desa.