Technology mastery the way to becoming high-income nation: Malaysian PM

Technology mastery the way to becoming high-income nation: Malaysian PM

Kuala Lumpur (UNA-OIC) – The only way for Malaysia to become a high-income nation is to become a high-tech country, Prime Minister Muhyiddin Yassin said, noting that history has proven that military and economic might, and world superpowers are highly dependent on the mastery of technology.
To put it in context, the prime minister said some two decades after the Second World War, Malaysia’s gross domestic product (GDP) was still far higher than South Korea’s and Taiwan’s, but just two years on, Taiwan overtook, followed by South Korea in 1977. He attributed their success to mastery of technology.
Launching the National Technology and Innovation Sandbox (NTIS) here today, Muhyiddin said the NTIS initiative will help support and intensify the government’s efforts to develop technological fields and commercialize local technologies.
NTIS, an initiative under the National Economic Recovery Plan (PENJANA), can accelerate economic growth opportunities through the use of disruptive technology such as Artificial Intelligence (AI), robotics, drone technology, sensory technology and 5G infrastructure in the mission to overcome domestic issues.
“These include foreign labor dependence, food security risk, healthcare and issues concerning the digital divide,” Muhyiddin said, pointing out that NTIS can drive Malaysia into becoming a high-tech and high-income country through innovative solutions, particularly through breakthroughs and local expertise.
The prime minister said the government, through the Ministry of Science, Technology and Innovation (MOSTI), has allocated RM100 million to promote technological development, innovation and creativity in the commercialization of local innovation and services as well as to enhance new research and development (R&D).
AB/UNA-OIC

Source link