Technological Innovations To See An Explosion Of Economic Activities By 2015

KUALA LUMPUR, Nov 5 (Bernama) -- An expert in tracking the technology revolution, Prof William E. Halal, is predicting that the year 2015 will see an economic explosion globally that will bring forth business opportunities worth trillions in ringgit. This will come with the vast development in electronic commerce, green business and other new industries worldwide, he said. Halal said the digital world will achieve an online market worth trillions of ringgit based on its wide usage anticipated from the highly populated countries like China, India and Brazil. He said global e-trade operations were now operating at a capacity of 10 to 15 per cent, and this is expected to reach a critical rate of 30 per cent which will help to contribute to the economic explosion. Halal also said it was also important for government and industries to take efforts to trace technology revolution for economic development in order to retain their competitive edge. Technology is a strategic corporate factor and therefore decision makers should give it the highest priority when strategising and planning, he said during a forum on business and technological innovations organised by Technology Park Malaysia Corporation Sdn Bhd (TPM), here Friday. The forum, supported by Asia Pacific University College of Technology (UCTI), was participated by 200 representatives from government agencies as well as industry figures. President and Chief Executive Officer of TPM, Mohd Azman Shahidin said Malaysia was capable of maintaining its economic growth and seeing further progress by building on a knowledge based economy. Companies and entrepreneurs should adopt latest technologies and innovations to lead in the global economy besides investing in various sectors such as Green Technology, he said. -- BERNAMA