GLCs pivotal in past, but Malaysia needs ‘ideators’ for the future - Nurul Izzah

SHAH ALAM - Malaysia's government-linked companies (GLCs) have long been instrumental in driving industrialisation, but the nation now needs to shift its focus towards innovation.

Co-chairperson of the Secretariat of the Special Advisory Body to the Finance Minister Nurul Izzah Anwar said in Malaysia many GLCs result from asserting Malaysian ownership over what were formerly colonialist-run organisations.

"Today, however, I think we all agree our economy needs to upskill itself to meet the challenges of the 21st century.

"Malaysia can’t only remain a centre for foreign investment-led manufacturing and needs to be more innovative.

"Malaysians can and are developing groundbreaking ideas and are successfully delivering those ideas to market," she said.

She was speaking at the annual Projek Amanat Negara organised by the United Kingdom and Eire (Ireland) Council for Malaysian Students (UKEC) at the Examination Schools of the University of Oxford recently.

Nurul Izzah stressed the importance of transforming Malaysia into a hub for innovation and groundbreaking ideas, moving beyond its reliance on foreign investment-led manufacturing.

In line with this vision, she pointed to the government's New Industrial Master Plan (NIMP) as a key framework.

The NIMP, set to be realised by 2030, aims to diversify the economy and propel it to higher levels of development.

"In short, we need to transform our economy and ourselves into more ideators, creators and innovators. This is how we will transform our economy from one that is reliant – and some say, too dependent – on global economic shifts.

"In my current role, together with the entire secretariat, answerable to Tan Sri (Mohd) Hassan Marican, we are ever-ready to face the challenging economic climate, identifying mechanisms to close the gap for more holistic social protection.

"I’m especially heartened by the enthusiasm of our young Malaysian scholars here in the UK, and many working Malaysian professionals.

"Everyone hasn’t forgotten home and many want to contribute towards making Malaysia a better place to live, work, and prosper," she said.

To facilitate the return of talented Malaysian scholars, Nurul Izzah revealed ongoing efforts in collaboration with the Science and Technology Ministry, the Education Department at the Malaysian High Commission in the UK, and other relevant government agencies.

The goal is to create clear pathways and opportunities for these individuals to serve and contribute to the Madani and NIMP2030 framework.