Government will focus on new source of wealth such as digital economy

KUALA LUMPUR – The government will continue to focus on the digitisation agenda in line with the growth of the nation’s new sources of wealth and economic transformation via knowledge and innovation-based activities, said Prime Minister Tan Sri Muhyiddin Yassin, reported Bernama.

He said the digital economy is expected to contribute 22.6% to the country’s gross domestic product by 2025.

“According to the International Institute for Management Development (IMD) World Digital Competitiveness Ranking 2020 report, Malaysia ranks at number 26 out of 63 countries, with a score of 82.39%,” he said in his One-Year Malaysia Prihatin Keynote Address on Monday.

Muhyiddin said that in terms of creativity and innovation, Malaysia ranks at number 12 out of 190 economies in East Asia and the Pacific region, with a score of 81.5 in the World Bank’s Doing Business 2020 report.

With that, the Malaysia Digital Economy Blueprint and the MyDIGITAL initiative were launched on February 19 to chart the growth trajectory of the country’s digital economy development, aimed at transforming Malaysia into a competitive country in the digital era.

“The MyDIGITAL initiative, which has the potential to attract estimated investments worth RM70 billion, will surely boost the country’s competitiveness, aside from being one of the catalysts for the nation’s economic recovery and the creation of more job opportunities for the people,” the prime minister said.

Additionally, the government — through the ministries and the relevant agencies — has collaborated with major communications service providers to develop a comprehensive digital infrastructure plan to meet the people’s needs.

This action plan, known as the National Digital Network (JENDELA), will be the platform for improving the country’s digital communications under the 12th Malaysia Plan.

The implementation of JENDELA is expected to provide a solution to the problem of internet access in rural and remote areas, including in Sabah and Sarawak, he said.

Muhyiddin said the government has approved 128 information and communications technology (ICT) projects worth RM3.8 billion, with an allocation of RM538.7million in 2021.

The approved projects encompass systems development, cybersecurity infrastructure and software, digital government competency training and the upgrading of ICT facilities in training institutes, he added.