PETALING JAYA: Malaysia’s government-linked companies (GLCs) have long been instrumental in driving industrialisation, but the nation now needs to shift its focus towards innovation, said Nurul Izzah Anwar, Co-chairperson of the Secretariat of the Special Advisory Body to the Finance Minister.
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 acknowledged the historical role of GLCs in asserting Malaysian ownership and fostering development. However, she highlighted the need for a new approach in the 21st century: “While GLCs were important in the past, our economy needs to upskill itself to meet the challenges of today.
“We can’t just rely on foreign investment-led manufacturing anymore. We have talented Malaysians developing groundbreaking ideas, and we need to harness that potential.”
Nurul Izzah spotlighted the government’s New Industrial Master Plan (NIMP) 2030 as a roadmap for economic diversification and innovation.
This plan aims to transform Malaysia from a resource-dependent nation to a hub for creativity and cutting-edge solutions.
“We need to become more than just manufacturers.
“We need to be ideators, creators, and innovators. This is how we can break free from our dependence on global economic shifts and build a more resilient and prosperous future,“ she said.
Beyond policy pronouncements, Nurul Izzah also highlighted concrete efforts to attract and retain skilled Malaysians.
Collaborations with the Ministry of Science and Technology, the Malaysian High Commission in the UK, and other agencies are underway to create clear pathways and opportunities for talented Malaysians overseas to contribute to the Madani and NIMP2030 framework.
“I’m inspired by the enthusiasm of young Malaysian scholars and professionals abroad.
“They haven’t forgotten their roots and are eager to contribute to a better Malaysia. We need to make it easier for them to return and channel their talents into building a more innovative and prosperous nation,“ she added.