Wednesday, May 12

Labour productivity to improve in 2021, says MPC


KUALA LUMPUR: The Malaysia Productivity Corporation (MPC) is projecting that the country’s labour productivity level will rebound in 2021 following the 5.4 per cent decline last year.

Its director general, Datuk Abdul Latif Abu Seman, also urged the public and private sectors to enhance the firms’ and individual productivity in producing goods and delivering services.

“MPC believes that the productivity growth is set to climb up this year. The positive projection aligns with the International Monetary Fund’s forecast of Malaysia’s Gross Domestic Product growth at seven per cent in 2021,” he said in a statement yesterday.

Abdul Latif noted that the Malaysia Productivity Blueprint (MPB) had outlined five drivers for productivity growth, namely talent, technology, incentives, business environment and productive mindset.

“In igniting the drivers, MPC has set a conducive ecosystem for innovative collaborations between the public and private sectors to affect the country’s productivity growth progressively.

“Nine Productivity Nexus, the industry-led establishments under MPC’s supervision, are reinforcing and strengthening their strategic initiatives and delivery, working very closely with the industry players in the corresponding sub-sectors,” he added.

According to Abdul Latif, digital technology is one of the key drivers to boost productivity level, proven as the effective delivery, communication, and coordination tool in workplaces during the various Movement Control Orders.

“The strategies and initiatives in the recently launched Malaysia Digital Economy Blueprint are expected to reiterate the role of digital technology further in boosting productivity in 2021,” he said.

In terms of talent, Abdul Latif said the adaptation to the workforce’s new demands was an important agenda for productivity growth.

“Reskilling and upskilling the workforce, as well as reducing the talent mismatch, are among the strategies to address talent demand and supply for the workforce of the future,” he added. —Bernama