- The second-most impressive nation out of 36 upper-middle-income nations, after China
- Advancements in the categories of” Institutions” and” Human Captial and Research” ( nbsp ),
In this year’s Global Innovation Index ( GII ) 2023, Malaysia has maintained its 36th place among 132 nations. According to a report released by the World Intellectual Property Organization( WIPO ), the overall score this year has increased to 40.9 from the previous year’s score of 38.7.
When compared to 2022, progress has been seen in five of the GII’s seven pillars, with notable improvements in the Institutions category( where Malaysia moved up from 34th to 29th place ) and in Human Capital and Research( moved from 38 to 32nd ).
As the nation moved from 26th to 18th in business class and from 41st to 36th for company style, other areas also experienced significant gains. Additionally, the place of Knowledge and Technology Outputs increased from 39th to 37th, indicating an upward pattern.
According to the GII 2023 statement, these findings indicate that, after China, Malaysia is the single most impressive of 36 upper-middle-income nations. After Singapore, Malaysia continues to be the single most impressive country in ASEAN in the regional context.
The Ministry of Science, Technology, and Innovation( MOSTI ) has listed several upcoming initiatives aimed at improving Malaysia’s position in a press release outlining its goals to be in the top 30 of the GII by 2025.
- Supporting the process of registering IP rights for potentially commercializable innovations, such as those created by school students, is known as intellectual property ( IP ) registration.
- The National Planet Health Action Plan( PTKPN ) is being developed with the goal of addressing human health issues as well as the country’s relationship with nature, biodiversity, and climate change, all of which are considered in the GII.
- In order to assist Bursa Malaysia in identifying potential businesses with the potential to become listed on the stock exchange, industry information about the local company ecosystem is provided.
- A Special Committee for Science, Technology, and Innovation Talent is suggested as a structure. This council would represent business associates and support national efforts to foster the development of dynamic skills in knowledge, technology and innovation.
The MOSTI clarified that they use Malaysia’s performance in the GII as a benchmark for the nation to gauge its latest innovation capabilities. They also concentrate on the factors that support and drive innovation, such as technology infrastructure, entrepreneurship, research and development, and other issues that need to be addressed.
In contrast, Indonesia( 61st ), Vietnam( 46th ), and the Philippines( 56th ) are all members of the group of nations that have climbed the GII rankings fastest over the past ten years. Singapore is the fifth-most innovative economy in the andnbsp, Southeast Asia, East Asian, and Oceania region. In addition, & nbsp,