The Professional Services subsector plays a critical role in the Malaysian economy, injecting high value-add to virtually every industry. Under the Malaysia Productivity Blueprint (MPB) launched in 2017, Professional Services has been identified as one of the nine priority subsectors, covering six professional disciplines: Accountancy, Advertising, Architecture, Engineering, Legal and Management Consultancy. Each of them plays an important part in building and powering the nation’s economic growth. It continues to record the highest productivity growth rates amongst all the nine subsectors, indicative of the latent potential that needs to be catalysed.
The establishment of the Professional Services Productivity Nexus (PSPN) under MPC is being led by industry associations and acting as a change agent to drive the productivity trajectory of this subsector. The PSPN is championed by Ts. Ir. Choo Kok Beng, CEO of Malaysian Service Providers Confederation (MSPC), focused on enhancing the productivity of professional services through common interest and digitalization goals. This initiative covers the four(4) thrusts of MPB:
(1)Workforce: Building Workforce of the future,
(2)Technology: Driving Digitization and Innovation,
(3)Industry Structure: Making Industry Accountable for Productivity, and
(4)Business Environment: Forging a Robust Ecosystem.