February 25, 2024

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Energising Malaysia’s Digital Economy Growth

The Malaysia Digital Economy Blueprint, within MyDIGITAL, outlines strategies for advancing Malaysia as a tech-driven economy, positioning the nation competitively. The comprehensive strategy encompasses initiatives and desired outcomes for the people, businesses, and the government over three implementation phases until 2030. These benefits will be realised through six strategic thrusts, 22 strategies, 48 national initiatives, and 28 sectoral initiatives outlined in the Malaysia Digital Economy Blueprint.

This blueprint serves as the roadmap to strategically position the nation as a formidable player in the evolving landscape. MyDIGITAL plays a pivotal role as a crucial enabler in actualising the objectives outlined in the Twelfth Malaysia Plan, 2021-2025 (RMKe-12).

The Malaysia Digital Economy 2023 comprehensive overview provides a thorough analysis of pivotal statistics derived from a myriad of sources. The third quarter of 2023 saw Malaysia’s e-commerce income by establishments growing by 5.4% year-on-year, totalling RM289.5 billion. This growth was predominantly fueled by the Manufacturing and Services sectors.

This comprehensive overview underscores Malaysia’s dynamic digital economy, emphasising the pivotal role of ICT and e-commerce across various sectors, with a focus on growth, usage trends, and technological advancements.

With its dynamic economy and well-established digital infrastructure, Malaysia stands out as a compelling eCommerce market in Southeast Asia. Anticipated to expand further in 2024, the Malaysian eCommerce sector benefits from a rising consumer inclination towards online shopping, supported by an array of personalised payment solutions.

The Department of Statistics Malaysia (DoSM) has expressed optimism that Malaysia is poised to achieve its annual gross domestic product (GDP) growth target of 4-5%. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin highlighted the positive economic momentum and consumer spending trends, particularly in the fourth quarter, traditionally characterised by increased expenditures on back-to-school, new year, and festive items.

In addition to economic indicators, Mohd Uzir addressed the successful implementation of the Central Database Hub (PADU) on January 2. By January 3, the system recorded 396,181 registered users, and Malaysians have until March 31 to update their information in the system.

Feedback on PADU from both urban and rural areas has been positive, with efforts from the Information Department (JaPen) contributing to its successful implementation. As Malaysia embraces technological solutions, the integration of PADU reflects the government’s commitment to ensuring inclusive benefits for all citizens through effective data management and engagement initiatives.

Malaysia is actively engaged in a strategic initiative to upskill its population, recognising the immense value of leveraging the digital economy and technological advancements. With a forward-looking approach, the nation is dedicated to empowering its people with essential digital skills to not only reap the benefits of the burgeoning digital economy but also actively contribute to and thrive in the ongoing tech development landscape. This commitment reflects Malaysia’s vision for a digitally proficient and competitive workforce, poised to capitalise on the opportunities presented by the rapidly evolving digital era.

In a strategic move to advance Malaysia in the digital economy era, SAYA DIGITAL has launched a comprehensive campaign to enhance the digital skills of Malaysians in both urban and rural areas. This initiative, going beyond digital literacy, envisions fostering a society adept at technology, smart living, and equal opportunities.

The #SayaDigital campaign is designed to boost digital literacy across diverse demographics, including the B40 group, youths, senior citizens, and socio-economically vulnerable communities throughout the nation. This initiative aligns with the growing trends in eCommerce and the digitalisation of various sectors, fostering a digitally empowered Malaysia.

This initiative builds upon Malaysia’s commendable position in the digital landscape within the ASEAN region, reinforcing collaborative efforts between the government and the people, as evident in initiatives like MyDIGITAL. However, recognising the ever-evolving nature of the digital technology sector in the Fourth Industrial Revolution, sustained efforts are crucial.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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