Malaysia On Right Track For Digitalised Internet Economy, Says Gartner

KUALA LUMPUR, Oct 22 (Bernama) -- Malaysia is on the right track to become a fully digitised Internet economy with the initiatives announced under Budget 2017, says Gartner Research. In a statement, Vice President Tervinderjit Singh said the budget sees an increased emphasis on digital connectivity by providing the nation with infrastructure and services that will help to form the pillars in establishing digital businesses. "The allocation of US$38.7 million (RM162 million) to the Multimedia Digital Economy Corp (MDEC) to encourage development in the e-commerce ecosystem and US$47.78 million (RM200 million) to stimulate startups reinforces the government's commitment to supporting digital activities. (US$1 = RM4.18) "Efforts to improve the coverage and quality of broadband connectivity nationwide through the allocation of RM1 billion to the Malaysian Communications and Multimedia Commission (MCMC), as well as making smartphones more accessible to public servants, will enable people to have increased digital capabilities and continue accelerating the digital transformation," he said. In line with Gartner's prediction that every industry will be transformed by digital business by 2025, the research and advisory firm supports the government's plan to introduce the world's first Digital Free Zone and is looking forward to seeing more details on this promising programme. The Digital Free Zone is set to stimulate growth and drive efficiency in the digital world by merging physical and virtual zones to facilitate international e-commerce. Meanwhile, in a separate statement, technology company Cisco Malaysia said the key measures tabled on the digital economy will not only galvanise the economy through innovation and technology, but also form the foundation of the country's digital transformation. Managing Director Albert Chai noted that the setting up of more Malaysia Digital Hub locations will create an ecosystem which will continuously bring disruptive ideas to the market and accelerate the creation of new products and services as it provides startups, innovators and technopreneurs a platform to collaborate. "The introduction of a new working pass category for Foreign Knowledge Tech Entrepreneurs will also help to swiftly build a digital-ready workforce, establishing another critical foundation for a Digitised Malaysia," he added. -- BERNAMA