China can boost Malaysia’s industrial transformation

China can boost Malaysia’s industrial transformation

China can assist Malaysia in terms of investment and technology, says the Socio-Economic Research Centre.

China’s technological expertise and innovation can play a pivotal role in helping Malaysia transform its industrial sector. (Pixabay pic)
PETALING JAYA:
China can play a pivotal role in helping Malaysia on its path towards industrial transformation, especially in advanced technology and artificial intelligence (AI), says Socio-Economic Research Centre executive director Lee Heng Guie.

He said China can help Malaysia in terms of investment and technology as the country has advanced AI technology and innovation.

“The two countries can come together and explore areas of cooperation,” he said at the Malaysia-China Commemorative Forum here today.

This includes high-tech electronics, green economy, digital economy, automation, renewable energy and the energy sector, he added.

Lee also said Malaysia and China should strengthen cooperation especially in people-to-people exchanges.

He explained this does not just refer to tourists, but also exchanges between education institutes as well as at the commerce-to-commerce, chamber-to-chamber, and government-to-government levels.

“It’s good to encourage more bilateral visits, not just at the ministerial level, but also between all the downline policymakers at the ministries and agencies, to have a better understanding of China,” he added.

Meanwhile, Binary Universiti chairman Joseph Adaikalam said the key lesson Malaysia can learn from China is the need to enhance the amount of investments into research and development (R&D), and focus on commercialisation of these R&D activities.

With R&D expenditure reaching 2.56% of gross domestic product (GDP), China has emerged as a global leader in fostering innovation and commercialising its research breakthroughs. Malaysia, in contrast, invests less than 1% of its GDP in R&D.

He further highlighted the pivotal role played by the private sector in China’s education landscape, citing Tencent and Alibaba.

He said these industry giants have made substantial contributions to educational advancement through strategic investments in AI labs and smart technology classrooms, a model that Malaysia can emulate to bolster its education system.

The forum commemorates the 50th anniversary of the establishment of diplomatic relations between Malaysia and China following the signing of the joint communique between prime minister Abdul Razak and premier Chou En-Lai on May 31, 1974.

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