EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Sunday, May 28, 2023
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

EDITIONS:

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm asncommerce mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Malaysia could lead region by implementing digital economy – Mustapa

by moneycompass
March 25, 2021
in Local Market News
Malaysiansm digital economy
Share on FacebookShare on WhatsApp

KUALA LUMPUR – Malaysia could take the lead in economic growth in the region by implementing a digital economy that is both inclusive and resilient by design, by consciously enabling the active participation of people with disabilities, reported Bernama.

Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said with 90.1% of the Malaysian households currently connected via mobile and fixed broadband, the Malaysia Digital Economy Blueprint (MyDIGITAL) aims to achieve 100% Internet access across households by 2025.

“Given the remote working practices of the new normal, we have an opportunity to mainstream accessibility as a horizontal consideration in realising Malaysia’s digital economy aspirations.”

“Covid-19 has forced educational, social, and economic interactions into online spaces. Through this blueprint, we aim to digitalise our public sector, build digital infrastructure, develop our workforce to be digital-ready, boost our economy, and foster a more inclusive society,” he said.

Mustapa said this during the Digital Dialogue Series 2021 on MyDIGITAL organised by the Social and Economic Research Initiative (SERI), a non-partisan think-tank dedicated to the promotion of evidence-based policies that address issues of inequality.

SERI chief executive officer Helmy Haja Mydin shared that the digital economy currently contributes 19.1% to Malaysia’s Gross Domestic Product (GDP) and was forecast to reach 20% this year.

“We are looking forward to the inclusive implementation of the blueprint which will accelerate the nation’s efforts to exceed the blueprint’s target of 22.6% digital economy contribution to GDP by 2025.

“As the government works towards its vision of trusted, inclusive, and sustainable socio-economic development, we must ensure that the implementation matches the aspirations of this comprehensive blueprint,” he said.

A panellist in the dialogue, Microsoft director of legal and government affairs, ASEAN and SEA new markets, Dr Jasmine Begum, viewed that data provide the necessary fuel for emerging technologies such as Artificial Intelligence and Quantum Computing.

“With data being the lifeblood of the digital economy, unlocking the potential of the digital era will be reliant on the people’s ability to innovate, compete, and transact across borders.

“The digital-first, cloud-first policy outlined in the blueprint will further propel innovation in the public and private sectors and accelerate the nation’s transformation to become a regional leader in the digital economy,” she said.

In the case of Malaysia, the government’s efforts to open digital borders will expand its opportunities beyond 32 million people, with intra-ASEAN cross border data flows allowing for greater competitiveness and economic growth within a market 20 times the size of the country’s population, she noted.

Meanwhile, another panellist, Southeast Asia Roland Berger co-managing partner, John Low, opined that digital exclusion is by no means a problem unique to Malaysia.

In Southeast Asia, a region of approximately 700 million people, 150 million adults are estimated to be digitally excluded, he said, adding that the exclusion is fuelled by disability, illiteracy, gender, age, wealth, and the concentration of economic activity predominantly in urban areas.

“The key to bridging the divide is to understand how ready the nation is in embracing digitalisation, what the barriers are, and what more needs to be done to ensure digital equity.

Roland Berger’s Digital Inclusion Index assesses the state of digital inclusiveness, considering four key aspects: accessibility, affordability, ability, and attitude, and Malaysia is considered a frontrunner in Southeast Asia, ranking at number two right behind Singapore.

“Globally, Malaysia is ranked at number 21. While it lagged in terms of accessibility and affordability, Malaysia performed highly to ability, and is best in the region for attitude,” he added.

 

Read more: Malaysia introduces BTC at KLIA to ease entry of world business travellers

Tags: ASEANdigitalEconomyGDPMyDigitalSEA
ShareSendShareSendTweetShare
Previous Post

Moody’s revises Malaysian banks outlook to stable from negative

Next Post

Global Investment Priorities in the Communication and Collaboration Space, According to Frost & Sullivan

Related Posts

Loh Guat Lan, President of LIAM
Local Market News

Life Insurers Offer Relief Measures to Assist Flood Victims

08 Mar 2023
Bursa Malaysia
Current News

Bursa Malaysia enhances Islamic securities

10 Feb 2023
Corporate News

JCorp Officially Launches JLand Group (JLG) to Capture Opportunities in New Economy Real Estate

18 Jan 2023

Discussion about this post

MOST POPULAR

  • TCIEXPRESS announces highest-ever revenue in Q4 FY23

    0 shares
    Share 0 Tweet 0
  • Introducing the World’s First Battery Tanker ‘X’: The Inaugural Ship of Power Ark 100. On Track for Completion by 2025, with Field Testing Set to Commence in 2026

    0 shares
    Share 0 Tweet 0
  • Inspiring a new generation of scientists: 12 thousand Saudi students collaborated with the astronauts in three scientific experiments

    0 shares
    Share 0 Tweet 0
  • Guizhou writes a new chapter of rural revitalization with big data technology

    0 shares
    Share 0 Tweet 0
  • GLN International to introduce Taiwan’s TaishinPay QR payment in Korea

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER