The contraction is also the worst in nearly 10 years.
Nevertheless, labour productivity is expected to rebound in 2021, following the steep decline recorded last year.
“The decline is inevitable. It is a global pattern brought by the impact of the pandemic, yet rest assured this is only temporary. MPC believes that the productivity growth is set to climb up this year, the positive projection aligns with the International Monetary Fund’s forecast on Malaysia’s GDP growth in 2021 by 7%,” said MPC director general Datuk Abdul Latif Haji Abu Seman in a statement today.
He also urged the public and private sectors to enhance firms and individual productivity in producing goods and delivering services. Enterprises, on the other hand, are implored to focus on production process efficiency and leverage on digital technology to widen market reach.
KUALA LUMPUR (Feb 16): Nearly 700 companies from various sectors have been acknowledged by the Ministry of International Trade and Industry and Ministry of Human Resources as shared prosperity organisations as at Feb 12.
To this end, these companies received the e-Shared Prosperity Organisation (eSPO) Acknowledgement Certificate (e-certificate) issued by Malaysia Productivity Corporation (MPC) which is driving the campaign to encourage more companies to join the ranks.
MPC has noted that the take-up rate among construction companies in particular, is still low, at only 47, and is urging more in the sector to claim the acknowledgement.
This is because through eSPO, the companies could attract more locals to work in the construction business, hence reducing the reliance on foreign workers, said director-general Datuk Abdul Latif Abu Seman.
KUALA LUMPUR (Feb 7): Malaysia Productivity Corporation (MPC) is committed to enhance the efficiency of regulatory delivery in dealing with construction permits (DCP) to affect Malaysia’s competitive advantage and ease of doing business.
MPC director-general Datuk Abdul Latif Abu Seman said in a statement today that the outcome is expected to contribute to more foreign direct investment (FDI) into Malaysia. One of the strengths Malaysia has to attract more FDI into the country is in the aspect of dealing with construction permits where we have shown an impressive improvement in terms of ranking for the indicator, according to the
World Bank’s Doing Business Report which compares 190 economies globally, he said.
02 Feb 2021 / 11:30 H.
KUALA LUMPUR: Private healthcare facilities are ready to accommodate Covid-19 patients, as earlier directed by the government, Private Healthcare Productivity Nexus (PHPN) chairman Datuk Dr Jacob Thomas said.
Dr Jacob said the private hospitals had provided 71 units of ventilators to government hospitals nationwide, when cases in Intensive Care Unit (ICU) and Coronary Care Unit (CCU) began to show a decline, and this matter was confirmed by Association of Private Hospitals of Malaysia (APHM) president, Datuk Dr Kuljit Singh in a statement recently.
He said private healthcare providers had always supported the government in dealing with any healthcare-related situation in the country, more so when there was a surge in daily Covid-19 cases.
100 SME firms to take part in AI4S programme 27 Jan 2021 / 16:29 H.
KUALA LUMPUR: A total of 100 companies across various sectors will take part in the Artificial Intelligence for Small and Medium Enterprises (AI4S) programme, under which several artificial intelligence (AI) pilot projects will be implemented via an AI starter kit.
Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Azman Mahmud said the programme’s main objective was to increase the number of AI use cases and demonstrate the capability of AI and its potential returns to companies and various entities in the Malaysian economy.
“This (the programme) is another significant milestone for MIDA to collaborate with established companies such as Intel Malaysia and Axiomtek, which are the partners in the AI starter kit launch in August 2020, via a collaborative network of MIDA Taiwan, MIDA headquarters and Malaysia Productivity Corporation (MPC),” he said during the virtual launch of