Innovation Is One Of NEM's Strategic Areas

KUALA LUMPUR, March 30 (Bernama) -- Innovation is one of the strategic areas under the New Economic Model (NEM) and the National Innovation Policy is being finalised, Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili said on Tuesday.

Asked to comment on the NEM, Ongkili said that his ministry was going to set up the national innovation centre as announced by Prime Minister Datuk Seri Najib Tun Razak.

"We have finished consultations with the private sector and will circulate (the results) to the Cabinet," he said.

Ongkili also said that the government was concerned that downstream activities in industries such as palm oil were not taking off.

"Our industries have been too comfortable and banking on low labour cost and the manufacturing sector. We forgot that our competitiveness is declining," he said.