The number one thing that Malaysia should aspire to is becoming a high-income nation. Nothing else even comes close.
Some say money doesn’t fix everything, but history shows it comes closer to it than almost anything else. Becoming a high-income nation is a surefire way of securing a bounty of benefits for everyday Malaysians.
After all, those living in high-income nations generally have more disposable income, a higher quality of education, more career opportunities and mobility, higher levels of personal safety, and sounder public infrastructure.
This should be our north star. Let’s make Malaysia rich.
But I know what you’re saying. No sh*t, Sherlock. You’re right, we either explicitly or implicitly know that if Malaysia becomes a rich country, it’s great for all of us. But the million-dollar question is, how do we get there?
A surefire way of becoming a rich nation is by prioritising science, technology and innovation as there is no other sector that has the explosive potential and economic returns that it does.
Here are three things we can do to boost our innovation output and, correspondingly, propel Malaysia into the upper echelons of the most prosperous nations in the world:
One of my fondest childhood memories is frequenting the National Planetarium at the Perdana Botanical Gardens with my dad. I found it wondrous and fantastical, and it planted in me a lifelong fascination with science.
PetroSains in KLCC was also a favourite of mine. The interactive exhibits and kid-friendly explanations were instrumental in sparking my curiosity about the natural world.
Unfortunately, we don’t have nearly enough such institutions in the country.
Imagine how many wide-eyed, impressionable kids could develop a lifelong love of science and technology if we had even larger, more extensive science museums and planetariums all over the country, instead of being concentrated in Kuala Lumpur.
This is what we need to do. Not only do we need to massively increase the number of museums, but we also need to broaden the subject matter they cover – from astronomy to archaeology, botany, natural history, and even cutting-edge technology.
Our museums should be beautifully designed, integrated with science and technology-related shopping outlets, and feature a variety of restaurants.
These venues should be so appealing that many Malaysians would choose to frequent them with their kids instead of the shopping malls they’re currently addicted to.
It’s also unfair that museums and science-related venues are largely focused in Kuala Lumpur.
What about the millions in rural Kedah, Kelantan, or the jungles of Sabah? Every state deserves museums and science centres that become cultural and intellectual hubs for children to explore and learn.
Malaysia needs to institute startup boot camps in schools to foster innovation, out-of-the-box thinking, and creativity from a young age.
Early exposure to entrepreneurial skills equips students with the mindset needed to navigate a rapidly evolving global economy.
Startup boot camps, where students can learn the fundamentals of business creation, problem-solving, and innovation, provide a platform for fostering these skills. By integrating entrepreneurship education into the school system, Malaysia can cultivate a generation of thinkers and doers who are ready to embrace risk, push boundaries, and lead in technological advancements.
Teaching entrepreneurship early promotes critical thinking and creativity, as it encourages students to approach challenges in new ways. Startup boot camps provide hands-on experiences that involve brainstorming, prototyping, and launching small-scale projects.
This practical approach not only teaches students the mechanics of starting a business but also trains them to think creatively and solve real-world problems. Such an environment naturally nurtures innovation, as students learn to look beyond traditional solutions and explore uncharted territories.
Moreover, introducing startup boot camps at a young age instils a culture of risk-taking and resilience. Entrepreneurship is inherently about taking calculated risks, dealing with uncertainty, and learning from failure.
By exposing students to these experiences early, Malaysia can build a generation of fearless innovators who are not afraid to challenge the status quo or explore new technological frontiers.
This culture of experimentation and calculated risk-taking will drive the nation forward, fostering breakthroughs in fields like artificial intelligence (AI), biotechnology, and renewable energy.
Technological innovation is a critical driver of growth, competitiveness, and sustainability.
By prioritising R&D, Malaysia can build a solid foundation for creating breakthroughs in sectors like AI, biotechnology, renewable energy, and more. This investment will not only drive local economic growth but also position Malaysia as a key player on the global stage.
Investing in R&D fosters a culture of innovation, where scientific inquiry, experimentation, and creative problem-solving become central to the nation’s development strategy. It encourages universities, research institutions, and private industries to collaborate in generating new ideas, processes, and technologies.
Countries that prioritise R&D, such as South Korea and Germany, have demonstrated how consistent investment in innovation can lead to world-class products and solutions that dominate international markets.
For Malaysia, increased R&D investment will attract top global talent and retain local experts, creating a vibrant ecosystem where innovation thrives. This, in turn, can spark the creation of homegrown startups, boost the competitiveness of established industries, and drive high-value job creation.
In addition, targeted investment in R&D can position Malaysia to solve pressing challenges in fields such as climate change, healthcare, and AI.
Moreover, investing in R&D will enhance Malaysia’s ability to create world-first technologies that set new global standards, giving the nation a competitive edge in international markets.
For example, breakthroughs in green technology could make Malaysia a leader in sustainability, while advances in AI could put it at the forefront of the digital revolution.
The steps detailed above will go a long way towards making Malaysia an innovation-first nation and over the next few decades, transform us into a world-beating, high income nation. Let’s get after it! - FMT
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