SUBANG: Malaysia recorded a productivity growth of 3.5 per cent last year. It places the country on track to achieving its goal of having an annual productivity growth rate of 3.7 per cent by 2020. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said challenging the 'productivity frontier' requires significant changes. “A holistic nationwide productivity movement involving the government, industry and individuals will ensure long-term well-being,” he said at the launch of Productivity Report 2014/2015. The movement will be launched later this year. Mustapa said Malaysia needs to up its game to deliver on its promise of a progressive future and achieve high income status.
“Our ability to increase labour productivity growth rate depends on deriving greater efficiency from human capital, innovation and operational excellence.” The annual report, compiled by the Malaysia Productivity Corporation included several recommendations to address the hurdles facing the goals. There is a need to enhance good regulatory practices, strengthen the role of industry associations and unions, setting up productivity centres. Drawing from successful experiences of Singapore, Canada and Japan, MPC has drawn up recommendations for the government, industry and enterprise.