Public universities urged to adopt entrepreneurial mindset for financial sustainability

New Straits Times

29-04-2025

KOTA KINABALU: Public universities are urged to better utilise their existing resources and embrace an entrepreneurial mindset to ensure financial sustainability.
Higher Education secretary-general Datuk Dr Anesee Ibrahim said there is a need for continuous investment to build world-class institutions and a robust higher education ecosystem.
He said that while education and consultancy are among the main products of universities, both are still not consistently or significantly contributing to university income.
Acknowledging the challenges, Anesee said public universities must move away from a dependency mindset and cultivate a stronger culture of innovation and entrepreneurship.
In 2023, the government allocated about RM12 billion to public universities, covering 70 per cent of institutional expenditure.
The remaining expenses were funded through tuition fees and other sources.
He said the endowment received by these universities is still considered low compared to global standards, while wakaf for education has yet to be successfully commercialised.
"There is a need to transform Malaysia's higher education financing system comprehensively. We can no longer rely on the same model and expect different results.
"We need a new strategy to reduce dependence on traditional products while simultaneously enhancing the sustainability of the national higher education system," he said during a programme on Reforming the New Funding Model for Higher Education Institutions Towards Sustainability at a hotel here.
Anesee also called for sustained engagement between universities, industry players, alumni, and the broader community to support institutional development.
Citing Asean's growing population of 670 million and its economic strength, he said there are opportunities to expand education and research collaborations in areas such as green technology, biodiversity, climate change, and food security.
"Malaysia is no longer merely a low-cost study destination, but a hub for excellence in higher education, especially in strategic fields such as maritime studies, tropical biodiversity, the digital economy, and social entrepreneurship," he said.
Anesee expressed optimism that with innovative strategies and collaborative efforts, Malaysia can build a higher education system that is not only world-class but also rooted in its own strengths.
Present was Universiti Malaysia Sabah vice-chancellor Professor Datuk Dr Kasim Md Mansur.