The Malaysia Digital Economy Corporation (MDEC) recently launched the #DigitalvsCovid campaign, which rallies local tech and digital companies to extend their services and create incentives for those affected by the nationwide Movement Control Order (MCO).
So far, 80 local tech-centric companies have joined the campaign and are offering a multitude of solutions and services on a pro-bono basis to help businesses and consumers through the challenges resulting from the MCO.
Whether it is an attractive discount or strategic collaborations, the companies expressed sincere interests to help buffer the impact of the MCO at large.
Paying it forward
While large corporations have contingency plans to minimize the impact of Covid-19, many SMEs and micro-enterprises may not be able to tide through this global pandemic. One way forward is through automation and digitalization.
The CEO of MDEC stated that the agency is proud to announce that 80 tech companies are waiting to render their services and MDEC urges entrepreneurs from all industries to leverage on these offerings.
Many SMEs are experiencing interrupted supply-chain movement, delays in business processes that require paperwork, limited tools to engage their stakeholders, constraints in conducting non-cash transactions, as well as challenges in managing a high-volume workforce.
Nonetheless, MDEC is confident that its Global Acceleration And Innovation Network (GAIN) companies can offer relief to SMEs by resolving some of these difficulties.
Digital solutions during the lockdown
On 16 March 2020, Malaysia’s Prime Minister officially promulgated the Movement Control Order. The MCO has been implemented as a preventive measure of the federal government of Malaysia towards the 2019–20 coronavirus pandemic (COVID-19).
During this time, firms are being encouraged to make their daily operations digital.
Malaysian businesses are struggling to enable their staff to work from home during the Covid-19 movement control order, discovering that remote working goes beyond having a laptop and a broadband connection.
Cloud services providers are struggling to meet a flood of interest and demand. Referrals have jumped as software providers such as Microsoft and Google are inundated by inquiries, consultants note.
Experts’ advice for small and medium-sized businesses is to take advantage of free offers and trials from software providers and vendors.
Malaysia’s ICT spending to reach US$25 billion in 2023
Despite the challenges raised as a result of the Covid-19 outbreak, the information and communication technology (ICT) market in Malaysia is set to grow at a compound annual growth rate (CAGR) of 8.9% between 2019 and 2023.
This growth from 2018 US$16.5 billion to US$25.2 billion in 2023, will mainly be supported by the rising adoption of ‘client computing’ and ‘cloud computing’, according to a leading data and analytics company.
One firm forecasted that ‘mobility’, ‘cloud computing’, ‘data analytics’, ‘storage’ and ‘business process outsourcing’ will be the five leading IT solution areas in terms of growth rate. Mobility is set to witness the highest CAGR of 21% during the forecast period.
It was noted that the Malaysian government’s initiative to create a hub for innovative producers and users of multimedia technology with Mandatory Standard for Access Pricing (MSAP) is paving the way for the availability of affordable high-speed Internet services and the emergence of a mature telecommunications infrastructure in the country.
As a result, Malaysia is set to witness a relatively high broadband penetration as compared to other peer Asian countries.
It was noted that the Malaysian information communication technology (ICT) market boasts of strong fundamental government policy, high-tech focused national development and availability of skilled workers, which has further contributed to the growth of the industry in the country.
Additionally, the high levels of digital adoption and internet penetration will continue to drive the ICT market in Malaysia.
With this on the horizon, it is no wonder that MDEC and government agencies are racing to resume normal economic activity.
The Malaysia Digital Economy Corporation (MDEC) recently launched the #DigitalvsCovid campaign, which rallies local tech and digital companies to extend their services and create incentives for those affected by the nationwide Movement Control Order (MCO).
So far, 80 local tech-centric companies have joined the campaign and are offering a multitude of solutions and services on a pro-bono basis to help businesses and consumers through the challenges resulting from the MCO.
Whether it is an attractive discount or strategic collaborations, the companies expressed sincere interests to help buffer the impact of the MCO at large.
Paying it forward
While large corporations have contingency plans to minimize the impact of Covid-19, many SMEs and micro-enterprises may not be able to tide through this global pandemic. One way forward is through automation and digitalization.
The CEO of MDEC stated that the agency is proud to announce that 80 tech companies are waiting to render their services and MDEC urges entrepreneurs from all industries to leverage on these offerings.
Many SMEs are experiencing interrupted supply-chain movement, delays in business processes that require paperwork, limited tools to engage their stakeholders, constraints in conducting non-cash transactions, as well as challenges in managing a high-volume workforce.
Nonetheless, MDEC is confident that its Global Acceleration And Innovation Network (GAIN) companies can offer relief to SMEs by resolving some of these difficulties.
Digital solutions during the lockdown
On 16 March 2020, Malaysia’s Prime Minister officially promulgated the Movement Control Order. The MCO has been implemented as a preventive measure of the federal government of Malaysia towards the 2019–20 coronavirus pandemic (COVID-19).
During this time, firms are being encouraged to make their daily operations digital.
Malaysian businesses are struggling to enable their staff to work from home during the Covid-19 movement control order, discovering that remote working goes beyond having a laptop and a broadband connection.
Cloud services providers are struggling to meet a flood of interest and demand. Referrals have jumped as software providers such as Microsoft and Google are inundated by inquiries, consultants note.
Experts’ advice for small and medium-sized businesses is to take advantage of free offers and trials from software providers and vendors.
Malaysia’s ICT spending to reach US$25 billion in 2023
Despite the challenges raised as a result of the Covid-19 outbreak, the information and communication technology (ICT) market in Malaysia is set to grow at a compound annual growth rate (CAGR) of 8.9% between 2019 and 2023.
This growth from 2018 US$16.5 billion to US$25.2 billion in 2023, will mainly be supported by the rising adoption of ‘client computing’ and ‘cloud computing’, according to a leading data and analytics company.
One firm forecasted that ‘mobility’, ‘cloud computing’, ‘data analytics’, ‘storage’ and ‘business process outsourcing’ will be the five leading IT solution areas in terms of growth rate. Mobility is set to witness the highest CAGR of 21% during the forecast period.
It was noted that the Malaysian government’s initiative to create a hub for innovative producers and users of multimedia technology with Mandatory Standard for Access Pricing (MSAP) is paving the way for the availability of affordable high-speed Internet services and the emergence of a mature telecommunications infrastructure in the country.
As a result, Malaysia is set to witness a relatively high broadband penetration as compared to other peer Asian countries.
It was noted that the Malaysian information communication technology (ICT) market boasts of strong fundamental government policy, high-tech focused national development and availability of skilled workers, which has further contributed to the growth of the industry in the country.
Additionally, the high levels of digital adoption and internet penetration will continue to drive the ICT market in Malaysia.
With this on the horizon, it is no wonder that MDEC and government agencies are racing to resume normal economic activity.
