Malaysia's Professional Service Records Highest Productivity Since 2020 - MPC

KUALA LUMPUR, July 15 (Bernama) -- Malaysia's Professional Services sector continues to perform well, recording its highest productivity growth in the past five years, reaching RM94,964 per employee this year, compared to RM89,748 in 2023.

The Malaysia Productivity Corporation (MPC), in a statement today, announced that the sector’s productivity is now close to the national average of RM100,000, positioning it as one of the key contributors to the country’s economic growth.

"This achievement demonstrates the effectiveness of the Professional Services Productivity Nexus (PSPN) implementation strategy, which focuses on key subsectors such as legal, finance, engineering, architecture, management and advertising," it said.

MPC Director-General Datuk Zahid Ismail said the sector’s strong performance reflects the important role of the Professional Services subsector in supporting economic growth, especially through greater digitalisation, workforce skills enhancement and improved regulatory efficiency.

"MPC is committed to seeing this subsector not only meet but surpass national productivity benchmarks, becoming a leading example of high-performance practices in the country,” he added.

He said the increase in productivity also signalled that Malaysia is on the right track to becoming a regional leader in professional services.

Meanwhile, PSPN chairman Ir Choo Kok Beng stated that the positive growth was the result of strong collaboration between the public and private sectors, alongside the contributions of training institutions in providing an ecosystem that encourages innovation and resilient economic development.

“We are confident that this subsector is capable of building a sustainable ecosystem that promotes innovation and supports resilient economic growth,” he said.

MPC reiterated its commitment to continue to strengthen the subsector through strategic approaches and targeted interventions so that the professional services sector remains a catalyst for Malaysia’s economic sustainability.

With the implementation of these proactive measures, the Professional Services subsector is expected to chart stronger productivity growth, thus enhancing the country’s competitiveness at the international level

 -- BERNAMA