M'Sia on track for 4.7 pct labour productivity growth

PETALING JAYA (Selangor, Malaysia), Oct 19 (Bernama) Malaysia is on track to achieve the target of 4.7 per cent growth in labour productivity this year, said International Trade and Industry Deputy Minister Mukhriz Mahathir.

He said Malaysias productivity level or output per employee last year at US$13,577 was 3.3 times higher than Chinas and 4.7 times higher than Indonesias.

However, comparisons with the productivity levels of more advanced countries in the region such as Korea at US$33,628 and Singapore at US$54,556 confirm that there is still room for improvement, he told reporters on Wednesday after officiating the Productivity & Innovation Conference and Exposition 2011 here.

Mukhriz said Malaysia needs to benchmark its productivity level against countries like Korea and Singapore which are doing better, adding this is where the focus on productivity and innovation comes to play.

We want to benchmark against the best, but it is not just the number, it is the real initiatives by conferencing like what we are doing today and competition where we get companies to look at specific subjects on how to improve the productivity level.

Going by the attendance today, it tells me that people from management all the way to factory workers are very interested to improve productivity, he added.

Mukhriz said achieving productivity improvements can be thought of in terms of five interlinked catalysing factors which enable individuals and firms to thrive.

These involve organisational development, human capital management, the capability to innovate, the ability to acquire and use technology, and efficient management systems, he said.

Mukhriz also witnessed the signing of a memorandum of understanding (MoU) between Malaysia Productivity Corporation (MPC) and Pembangunan Sumber Malaysia Bhd.

The MoU will focus on providing enterprise intervention innovation programmes and modernising business regulations to complement the government! s effort s at achieving a high-income economy.

It will also contribute to productivity and innovation enhancement for enterprises and industries.

Some 2,250 participants from various sectors are attending the two-day conference organised by MPC and featuring 16 speakers from the public and private sectors as well as academia. (Bernama)