Malaysia Soars to 33rd Place in Global Innovation Index Rankings 2024  

By The Malketeer

 A Nation on the Brink of Technological and Creative Supremacy

In a groundbreaking leap, Malaysia has climbed to 33rd place in the 2024 Global Innovation Index (GII), its highest position since 2016.

This marks a significant advancement from the 36th spot it held for three consecutive years.

The GII, published by the World Intellectual Property Organisation (WIPO), is widely regarded as a key indicator of a nation’s innovative prowess, providing insights for countries and global corporations to shape policies and investments.

Innovation Efforts Pay Off

Malaysia’s improvement in the GII is more than a statistical success – it’s a reflection of the government’s relentless drive to enhance its innovation ecosystem.

The Minister of Science, Technology and Innovation, Chang Lih Kang, proudly highlighted that this achievement underscores the Madani government’s commitment to building a robust and synergistic environment for innovation.

“We are not just keeping pace with the world, we’re taking the lead in critical areas that will shape our future,” said the Minister.

Kuala Lumpur’s entry into the World’s 100 Best Science and Technology Clusters, ranking 93rd, is further evidence of Malaysia’s rising stature in global science and technology.

Leading in Critical Innovation Areas

Malaysia’s innovation success is not limited to rankings.

The nation continues to perform exceptionally well in several key areas.

It remains the second most innovative country within the Upper Middle-Income Countries category and ranks first globally in three vital indicators: Graduates in Science and Engineering, High-Tech Exports, and Creative Goods Exports.

However, the road to innovation leadership doesn’t stop here.

The R&D Investment Challenge

Despite its impressive rise, Malaysia faces a crucial challenge: increasing investment in research and development (R&D).

At 1% of GDP, the country’s Gross Domestic Expenditure on Research and Development (GERD) lags behind innovation powerhouses like South Korea (4.93%) and Japan (3.41%).

To achieve its goal of breaking into the top 30 GII rankings by 2025, Malaysia will need to substantially boost R&D funding, with a target GERD of 3.5% by 2030.

The government is poised to invest RM26 billion annually, while the private sector is expected to contribute RM60 billion to meet these targets.

Journey Towards Becoming A World-Class Creative Nation

As part of its forward-thinking approach, the Ministry of Science, Technology, and Innovation (MOSTI) will launch the Malaysia Innovation Index (MII) in 2025.

This index will measure innovation levels across all states, enabling precise interventions to strengthen the ecosystem nationwide.

“Our journey towards becoming a world-class creative nation has only just begun. The introduction of the MII will be pivotal in driving sustainable progress and ensuring Malaysia remains competitive on the global stage,” added Minister Chang,

The Future of Innovation in Malaysia

Malaysia’s rise in the Global Innovation Index is a testament to the nation’s growing capabilities in science and technology.

With a sharp focus on enhancing R&D investments and a promising innovation roadmap, the country is well on its way to becoming a global leader in creativity and innovation.

The upcoming launch of the MII will only accelerate this trajectory, ensuring that Malaysia remains a formidable player in the global innovation arena.