KUALA LUMPUR, March 12 ― Economy Minister Rafizi Ramli emphasized Malaysia’s potential to transcend the middle-income trap by delving into frontier science and technology across various industries, including agriculture, manufacturing, and healthcare. Rafizi underscored the importance of moving up the value chain to break free from the constraints of the middle-income trap, highlighting the need for key reforms to stimulate the ecosystem and create opportunities.
The upcoming launch of the Kuala Lumpur 20 (KL20) blueprint on April 22-23 is seen as a crucial step in this direction, providing a framework for strategic shifts and reforms aimed at fostering innovation and technological advancement. In line with this vision, the government aims to establish Malaysia as a regional hub for artificial intelligence (AI) and cultivate an ecosystem conducive to startup companies interested in AI technology, as outlined by Rafizi in November last year.
Speaking at the Second China-Malaysia Science and Technology Innovation Summit, Rafizi emphasized Malaysia’s role as an ideal testing ground for high-end Chinese technology, particularly in the semiconductor industry. With Malaysia’s significant market share in Outsourced Semiconductor Assembly and Testing (OSAT), Rafizi highlighted the country’s potential for commercial expansion through advancements in integrated circuit design, positioning Malaysia as a key player in fostering collaborative innovation and building a brighter future through science and technology.
