Miti: Malaysia’s productivity growth rebounds to 1.8pc in 2021

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KUALA LUMPUR, June 21 — Malaysia’s productivity growth rebounded to 1.8 per cent or RM90,697 per person in 2021 from -5.3 per cent or RM89,106 per person in 2020, said Deputy...

KUALA LUMPUR, June 21 — Malaysia’s productivity growth rebounded to 1.8 per cent or RM90,697 per person in 2021 from -5.3 per cent or RM89,106 per person in 2020, said Deputy International Trade and Industry Minister Datuk Lim Ban Hong.

“All the sub-sectors registered a positive growth except for retail and food & beverages, tourism, and professional services. “This is a driving factors for us to boost the nation’s productivity, targeted growth at an average of 3.6 per cent annually, from 2021 to 2025 as stated in the 12th Malaysia Plan.

He said the projection is aligned with the Ministry of Finance’s forecast that the country’s gross domectic product would grow between 5.5 and 6.5 per cent in 2022. Lim added that to achieve higher productivity growth, the country needs to aim on four key productivity drivers, namely talent, technology, business environment, and subsidy.

 

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