Malaysia must move beyond manufacturing and build its own brands
KUALA LUMPUR: Malaysia must move beyond its role in the global supply chain and become a creator and owner of intellectual property, technology and brands.
Malaysia must transition beyond its role in the global manufacturing supply chain and become a creator and owner of intellectual property, technology, and brands, according to Deputy Investment, Trade, and Industry Minister Sim Tze Tzin. Design is a crucial driver in enhancing the country's industrial capabilities and must be integrated into every stage of the value chain, from product development to commercialisation, as outlined in the New Industrial Master Plan 2030 and the 13th Malaysia Plan (13MP).
The creative economy, which contributes RM130.7 billion (6.8% of GDP) to the country's economy, has the potential to generate added value for Malaysia's industrial sector, particularly in the digital era.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
