Malaysian Prime Minister Najib tells SME Operators Change Approach Towards Innovation To Remain Competitive.

KUALA LUMPUR (Bernama) -- Malaysian Prime Minister Najib Tun Razak
Friday asked owners of small and medium enterprises (SMEs) to change their
approach on innovation to remain competitive.

He said the SME community in Malaysia was not adopting technology as rapidly
as they should.

"You have to make technology adoption an integral part of your business
strategy," he said at the Chinese New Year Open House and briefing on the
Innovation Agency Act Malaysia organised by SMI Malaysia.

Najib said technology was the platform that "will allow you to see much
farther than is possible with the naked eye."

In the business world, the SMEs have to inject technology into
their products and services, he said.

Technology-based innovation was one sure way of obtaining a sustainable
competitive edge, said Najib, who is also Finance Minister.

"We've to differentiate ourselves by adopting technologies and in doing so,
we've to cater to customers' needs. This will give us a competitive edge
against
low-cost producer countries taking away your business," he said.

Najib also said the business community have to accept that the global
business landscape has changed and it was not going to revert to the original
state.

"You must adapt and change to face the altered business environment. We
cannot turn the clock back, we have to move forward. A wise man once said "we
cannot control the winds, but we can adjust our sails," he said.

Najib said the government has established a special innovation unit (UNIK)
under the Prime Minister's Department to address innovation needs among the
business fraternity.

He said UNIK has started going to universities and research institutes to
find technologies developed locally which can assist the business community in
their businesses.

"UNIK will find the technologies or innovations and put them in plain
business language so that you can see how you can benefit from them," he said.

Najib also said the government would always provide opportunities to the
business community to create new wealth.

He said the new wealth can be maximised if ventures are based on
technological innovations.

"This government is business-friendly, hence our attempt to assist you
wherever possible. It's better to light a candle than to curse the darkness,"
he said.

On funding, Najib said the government has made funds available to finance
research and development projects and it also provided more grants to SMEs than
other nations.

Some of the funding schemes were created some time ago and have
outlived their usefulness, he said.

"It is time to have a strategic view and streamline these funding schemes to
ensure that you have access to innovation funding throughout the various stages
of your value chain.

"My government has already started this process and a more current system
will be introduced in the next few months," he added.

-- BERNAMA