6 Jan 2025

KUALA LUMPUR: The Malaysia Productivity Corporation (MPC) has expanded its productivity grant initiative to include sectors such as retail, food and beverage, healthcare, construction, and logistics. 



MPC said the extension reflects its ongoing commitment to fostering research and development (R&D) across diverse industries and ensuring that traditionally underserved sectors can benefit from the initiative. 

"With this year's broadened scope, we aim to provide even more companies with the resources they need to innovate and grow. 

"R&D serves as a catalyst for innovation, allowing companies to stay ahead of the curve in today's fast-evolving market. By fostering a culture of research-driven development, we aim to strengthen Malaysia's global competitiveness," said MPC director-general Zahid Ismail.,.

Between 2010 and 2020, Malaysia's R&D funding landscape saw a significant shift. Contributions from business enterprises dropped sharply from 64.5 per cent to 34.2 per cent, despite the fact that R&D can boost efficiency by up to 30 per cent. 

The productivity grant is designed to reverse this trend by providing the necessary resources to help businesses innovate, streamline operations, and unlock their full potential.

It supports companies in advancing their research, development, commercialisation, and innovation efforts, enabling them to develop innovative solutions that tackle operational challenges, seize growth opportunities, and position themselves as leaders in their respective sectors.

This year, the productivity grant will prioritise initiatives that integrate digital transformation and sustainability, ensuring recipients are well-equipped to face emerging challenges and capitalise on global trends.

Successful applicants will benefit from a comprehensive suite of support services, including MPC-led workshops on productivity enhancement strategies, networking opportunities with industry leaders and experts, and advisory services to guarantee impactful outcomes. 

Applications for the grant are open from January 6 to February 7.

Source: New Straits Times, Lumi News Malaysia, Klse Screener