PUTRAJAYA, Jan 16 — The Ministry of Economy, in collaboration with the Ministry of Science, Technology, and Innovation (MOSTI), is working to improve the Research, Development, Commercialisation, and Innovation (RDCI) ecosystem in the country, addressing existing gaps.

Economy Minister Datuk Seri Rafizi Ramli acknowledged that while the government had spent over RM1 billion to fund RDCI programmes in both private and public sectors, several areas needed improvement to boost Malaysia’s global competitiveness.

“This effort is being undertaken jointly by the Ministry of Economy and MOSTI. It has been discussed at the National Economic Action Council (MTEN). God willing, within two to three months, after being tabled in the Cabinet and finalised, it will be launched in the first half of 2025,” he said.

He shared this during a media briefing on the ministry’s roadmap for 2025 after attending an engagement session on the 13th Malaysia Plan (RMK13) with business chambers and industry players in the pharmaceutical, chemical, digital, machinery, and agro-food sectors here today.

Rafizi added that the Ministry of Economy would continue to focus on two key areas to improve the economic structure, namely enhancing supply chain efficiency and addressing price transparency issues.

“A major issue in our country is the inefficiency of supply chains. Products are made elsewhere, then incur additional costs to transport to Kuala Lumpur before being sent back to the area.

“Logically, if the supply chain is efficient, people in the south should buy from the south, avoiding high logistics costs. But this requires significant infrastructure, data, and regulations that are not yet in place,” he said.

Rafizi also emphasised the importance of supporting small and medium enterprises (SMEs), which account for nearly 97 per cent of businesses in the country.

He revealed that a joint study with the Organisation for Economic Co-operation and Development (OECD) was conducted to assess the challenges faced by SMEs, including difficulties in scaling up and merging into larger entities.

“There are structural issues. It is challenging for SMEs to merge and grow into bigger entities. This will also be a focus area,” he said.

The three-hour engagement session, attended by over 100 stakeholders, highlighted various industry issues and challenges and was moderated by Rafizi. — Bernama