Malaysia Ranks 2nd In Sea In International IP Index

KUALA LUMPUR, Feb 8 (Bernama) – Malaysia was ranked second in Southeast Asia by the US Chamber of Commerce’s Global Innovation Policy Centre (GIPC) in its seventh annual international intellectual property (IP) index. GIPC international policy executive director Ellen Szymanski said the report analyses the IP climate in 50 world economies and ranks economies based on 45 unique indicators that are critical to an innovation-led economy supported by robust patent, trademark, copyright, and trade secrets protection. “Malaysia’s score illustrates how the country has taken some positive steps to bring its IP framework more closely in line with its Southeast Asian economy peers,” she said in a statement Friday. The report of the index also ranks Malaysia 24th out of 50 economies. Malaysia’s overall score increased from 48.68 per cent in the sixth edition to 49.70 per cent in the seventh edition. "Given how much progress Malaysia has made in improving its IP framework in the seven editions of the index, it is critical that the government rejects further attempts to weaken the IP framework through the use of compulsory licences. “Furthermore, to emerge as a leading middle-income economy and continue to attract global investment, the government must create a more robust patent environment, which is critical to protecting innovative, biopharmaceutical innovation in Malaysia,” she said. She also said that the index could serve as a roadmap for the government to create a stronger overall business environment through a more effective IP regime. “Through stronger IP policies, Malaysia will increase its ability to attract more venture capital, foreign investment, and private sector investment in research and development (R&D),” Szymanski said. Among Malaysia’s key strengths are a new case law that strengthens the customs enforcement environment against infringing goods in transit; generous R&D and IP-specific tax incentives in place; and a strong focus by the government on IP as a commercial asset and technology transfer tool. -- BERNAMA