Kuala lumpur: Malaysia’s Professional Services sector has reached its highest productivity growth in five years, achieving RM94,964 per employee this year, up from RM89,748 in 2023.

According to BERNAMA News Agency, the Malaysia Productivity Corporation (MPC) reported that this growth brings the sector’s productivity close to the national average of RM100,000, marking it as a significant contributor to Malaysia’s economic expansion. The MPC emphasized that the Professional Services Productivity Nexus (PSPN) implementation strategy has been pivotal in this achievement, with a focus on subsectors such as legal, finance, engineering, architecture, management, and advertising.

MPC Director-General Datuk Zahid Ismail highlighted the sector’s robust performance, underscoring the role of digitalisation, workforce skill enhancements, and improved regulatory efficiency in driving economic growth. He expressed MPC’s commitment to not only meet but exceed national productivity benchmarks, aiming for the subsector to s
et a national standard for high-performance practices.

Datuk Zahid noted that the rise in productivity is indicative of Malaysia’s progress towards becoming a regional leader in professional services. PSPN chairman Ir Choo Kok Beng attributed the positive growth to strong public-private sector collaboration and the contributions of training institutions in fostering an innovation-driven and resilient economic environment.

MPC reaffirmed its dedication to reinforcing the subsector through strategic initiatives, ensuring that the professional services sector continues to be a catalyst for Malaysia’s economic sustainability. With these proactive measures, the sector is poised for stronger productivity growth, enhancing Malaysia’s competitiveness on the international stage.