In the talk, the speaker will share the experience of Malaysia over the last two decades in addressing the emergence of knowledge and ICT as key development enablers. It is shown that while significant success has been achieved, a nation-wide transformation has yet to be realised. Persistent challenges are identified which are receiving concerted attention and renewed action. Lessons can be drawn which are useful for other countries at a similar stage of development The talk concludes with specific ideas on the way forward.