Malaysia: Knowledge-Based (K-Based) economy era and the journey ahead

Malaysia: Knowledge-Based (K-Based) economy era and the journey ahead. In: STSS 2004 : Prosiding Seminar Kebangsaan Sains Teknologi & Sains Sosial / Jilid 2 : Sains Sosial, 31 Mei – 1 Jun 2004, Hotel Vistana, Kuantan, Pahang. (Submitted) (2004)


Global events are taking place at a rapid pace with far-reaching effects. Anything can happen in a blink-of-an-eye. This rapid change is also blowing across the Asian landscape and forms a new economy and tins economy is based on knowledge. “An education revolution is necessary to produce talented human capital in an increasing global and competitive environment", Datuk Seri Abdullah
Ahmad Badawi said [5]. The excerpt describes Malaysia is quite apprehensive in participating the tremendous structural transformation of its economy. The arrival of knowledge-based economy shall entail economic benefits and costs. With this opportunity, Malaysia has embarked from an input-driven growth strategy to knowledge driven. This strategic direction was first announced in Budget 2000. The frontiers of knowledge are boundless. It is a new source of motivating growth of nation and the way of
life as it helps in producing wealth for firms and economy. Knowledge is now one of the factors of
production that drive the economy besides land, labour, or capital. Deriving from vision 2020, Malaysia has adopted several initiatives and aimed at developing into a K-based economy. The most significance is the establishment of the Multimedia Super Corridor (MSC) in 1996, with the intention to forward the development of high technology and innovation for both domestic and foreign companies and the implementation of several flagships applications. This article explains about K-based economy and within it include the characteristics of k-based economy, the rationale to why Malaysia needs K-based economy, our positioning towards K-based economy, the people involved, the challenges and solutions to lead the k-based economy.

Item Type: Conference or Workshop Item (Paper)
Keywords: Employee empowerment, Competency measurement, Knowledge-based economy, Knowledge management, Internet of thing, New market development
Taxonomy: By Subject > Business & Management > Human Resource
By Subject > Computer & Mathematical Sciences > Information Technology
By Subject > Business & Management > Management
By Subject > Business & Management > Marketing
Local Content Hub: Subjects > Business & Management
Depositing User: Mohd Fadhli Samsudin
Date Deposited: 13 Jul 2021 10:02
Last Modified: 13 Jul 2021 10:02
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