Raising education, skills will drive productivity, growth - Najib

Malaysia too, he added, needed to focus on being at the forefront of using-and inventing - new technology so as to gain and maintain a long-term competitive edge.

"We need a real focus on research and development and on better processes in the industry. We need to focus not just on innovation, but on commercialising innovation," he said when delivering his address on "Global Competitiveness: Malaysia's Aspirations at the Global Science and Innovation Advisory Council (GSIAC)-Khazanah Distinguished Lecture Series here, Tuesday.

He said these were big tasks which could not just be a matter for the government and called upon the private sector to also play its part, including in training at all stages of life.

"We need to form a new partnership so that all significant actors in our economy are united in making Malaysia the destination for investment.

"And that means our citizens are being empowered by having the skills and aptitude to adapt to a world in which standing still is not an option," he added.

He said Malaysia had an economic plan that had worked and would continue to do so for the benefit of Malaysians not just for today, but the years and decades to come.

The challenges of sustainable economic development and growth in an ever more competitive global economy would test Malaysia, and this could not be met without political will and a commitment to cooperation to invest the needed time and resources, Najib said.

"But I believe we will do it. I believe in both Malaysia's potential and its ability to find well balanced, sustainable growth models that create opportunities for all," he added.

Meanwhile, the Lecture series was attended by, among others Professor Alice Gast who is the president of Imperial College London; Professor Zakri Abdul Hamid who is Science Adviser to the Prime Minister; Tan Sri Azman Mokhtar, managing director of Khazanah Nasional Bhd; and Datuk Dr Mohd Yusoff Sulaiman, president and chief executive officer of Malaysian Industry-Government Group for High Technology.