MPC: RISTEX 2021 RECORDS RM466 MLN IN COST SAVINGS VIA INNOVATIVE PROJECTS

KUALA LUMPUR, Sept 9 -- A total of RM466 million in cost savings have been recorded through innovative projects shared during the Regional Innovation Showcase on Team Excellence 2021 (RISTEx 2021) programme, said the Malaysia Productivity Corporation (MPC).

In a statement today, MPC director-general Datuk Abdul Latif Abu Seman said the achievement was proof of the success of the Team Excellence (TE) group or the Innovative and Creative group in transforming innovative projects and increasing productivity at their respective workplaces.

Held from Sept 8-9, 2021, the MPC-organised RISTEx 2021 is a platform that recognises innovative projects which were conducted in groups; motivating employees to continue contributing to the sustainability and viability of their respective organisations.

A total of 196 TE groups from 95 firms had taken part in the programme, and their innovative projects were benchmarked to inspire 1,411 participants who attended the online programme.

According to the MPC, the initiative was in line with the Global Innovation Index 2020 (GII 2020) report published by the World Intellectual Property Organisation (WIPO), which showed Malaysia's position improving to rank 33 out of 133 countries listed, compared to 35 in 2019.

The GII ranks world economies according to their innovation capabilities.

"Therefore, this effort should be continued so that Malaysia's innovative performance is comparable to that of developed countries," the MPC said.

Meanwhile, Abdul Latif had also launched the Annual Productivity and Innovation Showcase (ArISe), formerly known as the Annual Productivity and Innovation Conference and Exposition (APIC).

ArISe is the national-level programme that recognises innovative projects, to be held this November.

"In line with these reforms, the scope of the ArISe’s initiative has also been expanded to enable more organisations to share best practices on their innovative and productivity improvement projects," he said.

-- BERNAMA