MDEC presented its plans to develop and strengthen the Digital Economy at the 28th annual MSC Malaysia Implementation Council Meeting, which was chaired by Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak, among them the include adapting and diversifying MSC Malaysia Cybercentres, through the setting up of new Digital Hubs.
These new Digital Hubs will aim to encourage more venues to be optimised for MSC Malaysia corporates, yet be able to support startup ecosystems with the necessary hard infrastructure offerings such as high speed broadband to enable growth of the Internet economy. Currently, there are three MSC Malaysia Cybercities that meet the standards of Tech investors, including Cyberjaya, Midvalley and Bangsar South.
“The fourth industrial revolution is upon us and through the continuing efforts of the Government and MDEC, Malaysia has risen to become one of the leading e-commerce markets, generating a revenue of USD2.3billion last year alone. With this in mind, we must strive to exceed our 2020 economic contribution target and intensify our efforts in innovating, accessing and adopting the use of digital technologies to build a brighter future for ourselves and our nation,” said Dato’ Sri Mohd Najib.
According to MDEC currently the contributions to GDP from the Digital Economy stands at 17.8 per cent, only 0.4 per cent short of the previous 2020 target.
One of the five catalysts of the Digital Economy is the development of the local talent pool. In line with advancing the Internet Economy, MDEC recently launched #mydigitalmaker movement, an initiative to create a nation of digital makers. The agency has also initiated collaboration with Ministry of Education to introduce coding at primary level, a move that will inculcate interest among young children.
The Prime Minister believes that 2017 will be the year of the internet economy and for Malaysia to build a vibrant digital economy both the public and private will need to co-work together. Specific initiatives have been developed by the government to target key communities such as youth, SMEs, digital entrepreneurs and the lower income B40 group.
