MPC: Labour output contracted for first time since 2009


However, MPC was optimistic the country’s productivity level will improve, projecting it to rebound this year.

KUALA LUMPUR: Malaysia’s labour productivity contracted by -5.4% in 2020, which was the first time since the 2019 global financial crisis, due to the fallout from the Covid-19 pandemic, but output is expected to rebound this year.

The Malaysia Productivity Corporation (MPC) said on Monday the on-year 5.4% decline was due to the pandemic which had severely impacted economic activities locally and globally.

However, MPC was optimistic the country’s productivity level will improve, projecting it to rebound this year.

MPC director general, Datuk Abdul Latif Abu Seman described the decline, while inevitable, but only temporary.

“MPC believes the productivity growth is set to climb up this year and the positive projection aligns with IMF’s forecast of Malaysia’s GDP to grow by 7.1% in 2021, ” he said.

Abdul Latif urged the public and private sectors to enhance the productivity of companies and also individual productivity in producing goods and delivering services.

He urged enterprises to focus on processes to increase production and also to leverage on digital technology to widen their market reach.

MPC’s Malaysia Productivity Blueprint (MPB) outlined five drivers for productivity growth: Talent; Technology; Incentives; Business Environment; and Productive Mindset.

Abdul Latif said MPC had set a conducive ecosystem for innovative collaborations between the public and private sector to affect the country’s productivity growth progressively.

Technology especially digital technology, one of the key drivers to boost productivity level, has proven as the effective delivery, communication, and coordination tool in workplaces during the imposed Movement Control Orders (MCOs).

The strategies and initiatives in the recently launched Malaysia Digital Economy Blueprint (MyDigital) are expected to reiterate the role of digital technology further in boosting productivity in 2021.

MyDigital envisions the future Malaysia to be a digitally enabled government, which will provide more efficient, effective, and transparent delivery and a digitalised business environment which will reduce cost and increase operational efficiency towards economic sustainability.

MyDigital targets 30% increase in productivity across all sectors by 2030.KUALA LUMPUR: Malaysia’s labour productivity contracted by -5.4% in 2020, which was the first time since the 2019 global financial crisis, due to the fallout from the Covid-19 pandemic, but output is expected to rebound this year.

The Malaysia Productivity Corporation (MPC) said on Monday the 5.4% decline was on-year due to the pandemic which severely impacted economic activities locally and globally.

However, MPC was optimistic the country’s productivity level will improve, projecting it to rebound this year.

MPC director general, Datuk Abdul Latif Haji Abu Seman described said the decline as inevitable but it was only temporary.

“MPC believes the productivity growth is set to climb up this year and the positive projection aligns with IMF’s forecast of Malaysia’s GDP to grow by 7.1% in 2021, ” he said.

Abdul Latif urged the public and private sectors to enhance the productivity of companies and also individual productivity in producing goods and delivering services.

He urged enterprises to focus on processes to increase production and also to leverage on digital technology to widen their market reach.

MPC’s Malaysia Productivity Blueprint (MPB) outlined five drivers for productivity growth: Talent; Technology; Incentives; Business Environment; and Productive Mindset.

Abdul Latif said MPC had set a conducive ecosystem for innovative collaborations between the public and private sector to affect the country’s productivity growth progressively.

Technology especially digital technology, one of the key drivers to boost productivity level, has proven as the effective delivery, communication, and coordination tool in workplaces during the imposed Movement Control Orders (MCOs).

The strategies and initiatives in the recently launched Malaysia Digital Economy Blueprint (MyDigital) are expected to reiterate the role of digital technology further in boosting productivity in 2021.

MyDigital envisions the future Malaysia to be a digitally enabled government, which will provide more efficient, effective, and transparent delivery and a digitalised business environment which will reduce cost and increase operational efficiency towards economic sustainability.

MyDigital targets 30% increase in productivity across all sectors by 2030.

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