IJIMT 2017 Vol.8(3): 228-239 ISSN: 2010-0248
doi: 10.18178/ijimt.2017.8.3.734

Highlighting Innovation Policies and Sustainable Growth in Malaysia

Hussain Ali Bekhet and Nurul Wahilah Abdul Latif
Abstract— Malaysia has grown tremendously over the past few decades because of its transformation from being predominantly agriculture-based in the 1970s to being manufacturing-based and modern services-based in the mid-1980s and 1990s, respectively. These achievements are attributable to the 10 Malaysia Plans covering 1966-1970 through 2011-2015. Presently, Malaysia is in the midst of a transformation phase to become an innovation-driven country in the fast-changing global environment. Therefore, understanding sources of growth patterns is indeed important to ensure that Malaysia’s development is on the right path. Thus, this paper emphasises the importance of innovation and its framework, which comprises three components: technological innovation, financial innovation and electricity sector (TFE). Furthermore, this study aims to highlight the innovation policies and strategy choices in Malaysia. It is apparent that well-planned strategies and relevant policies must be supported by all institutions and parties. It is hoped that a clear picture of innovation issues, policies and strategies can shed light on the progress of innovation in Malaysia.

Index Terms— Electricity consumption, financial innovation, innovation factors, technological innovation.

Hussain Ali Bekhet is with Graduate Business School, College of Graduate Studies, Universiti Tenaga Nasional (UNITEN), Kajang 43000 Malaysia (tel.: 603-89287326; fax: 603-89212064; e-mail: Profhussain@uniten.edu.my). Nurul Wahilah Abdul Latif is with College of Graduate Studies, Universiti Tenaga Nasional (UNITEN), Kajang 43000 Malaysia (e-mail: nurulwahilah@uniten.edu.my).

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Cite: Hussain Ali Bekhet and Nurul Wahilah Abdul Latif, " Highlighting Innovation Policies and Sustainable Growth in Malaysia," International Journal of Innovation, Management and Technology vol. 8, no. 3, pp. 228-239, 2017.

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