KUALA LUMPUR: Technology plays a vital role in developing a country economically and socially. It has the potential to drive economic growth and enhance social wealth by increasing the income levels.
For Malaysia, the high-technology industry has been the key contributor to the national economy, contributing US$90.3bil of exports in 2018, mainly from manufacturing exports which stood at 52.8%.
In addition, Malaysia has achieved a double-digit growth in high-technology exports for the last two years, with year-on-year growth of 17.2% in 2017 and 22% in 2018.
High technology is defined as the use of new technologies to create products or services not previously available.
Itramas Corp Sdn Bhd chief executive officer Lee Choo Boo said the use of high technology is important and opens up opportunities to bring the country into the next level in terms of a high-income nation as well as having high-skilled and knowledge workers.
“We see an opportunity to take Malaysia to the next level... we have to differentiate ourselves from some countries in this region and I think we need to accelerate not just our technology adoption but also the creation of new technologies and new products.
“For example, we should not depend on the conventional or basic economic sector. Of course, we are growing through infrastructure development but with the world now talking about the fourth industrial revolution (4IR), green technology, 5G and so on, I think this is the right time for Malaysia to move forward in the area of high technology, ” he told Bernama in an interview.
Itramas is a leading Malaysian engineering company in green technology and public works. It has extensive experience in implementing large-scale projects in the areas of renewable energy, energy efficiency, electronic manufacturing, and smart city solutions.
Lee said that apparently, with the Covid-19 threat, the high-technology industry, especially digital technologies, are becoming more significant as digital tools and platforms become enablers to mediate the effect of the social distancing policies.
“Not just the crisis, I think high technology is critical in the next 10 years. So, it is time for us to be in the development and process.
“Collaborating with Russia, which is a developing player in high technology, for example, to establish the Russian-Malaysian Hi-Tech Centre (RMHTC) will help accelerate advanced technologies in Malaysia and transform the country into a high-technology nation, ” he said.
The RMHTC, which aims to be the hub of Russia Hi-Tech in Asean, will be an accelerator for the Russian-Malaysian collaboration in entrepreneurship and education using Malaysia as a springboard into the rest of Asean.
The centre is to serve as a home for leading Russian-Malaysian Hi-Tech Joint Ventures, a showcase of Russian Hi-Tech, a centre of Russian science and technology education, and a comprehensive support base for Russian technology businesses and universities in Malaysia.
The centre was launched virtually in Moscow about a month ago with the official signing of an agreement among the three shareholders, namely Itramas, Russian-based information technology (IT) and semiconductor solutions provider Tronic JSJ and a leading Russian hi-tech non-profit organisation, the Technological Sovereignty Exports Association (Assets). — Bernama