Malaysia a dynamic hub for technological innovation and innovation – Fahmi

Malaysia a dynamic hub for technological innovation and innovation – Fahmi

KUALA LUMPUR: Malaysia has emerged as a dynamic hub for technological innovation and innovation, boasting a vibrant begin-up ecosystem and an inspiring entrepreneurial spirit, claimed Communications and Digital Minister Fahmi Fadzil.

He said the Malaysian federal government recognises the pivotal position of technology in driving economic development and has taken important steps to cultivate a favourable natural environment for tech investments and entrepreneurs in order to accelerate the electronic financial system.

“The federal government has also put excellent emphasis on the progress of Malaysia’s digital financial state, which has progressively improved its share of the nationwide overall economy,” he mentioned in his speech at the launch of Malaysia Electronic Overall economy Corporation’s (MDEC) Horizon – Electronic Economic climate Publication 2022 below now.

Fahmi reported the electronic financial state stands as one particular of Malaysia’s principal financial pillars, contributing 23.2 for each cent to its gross domestic products (GDP) in 2021, and the figure is projected to increase to 25.5 for each cent by 2025.

“To pave the way for a Golden Electronic 10 years in Malaysia, the governing administration has devised a extensive strategic strategy that focuses on strengthening interaction infrastructure, fortifying cybersecurity, and fostering the constant development in the digital overall economy.

“Additionally, the governing administration aims to drive economic participation amongst all segments of the Rakyat by way of digital platforms and digital business models. The future of digital Malaysia aims to make a flourishing electronic ecosystem that will travel innovation, entice investments, and propel the nation to a prosperous potential,” he reported.

With the tagline “A standpoint of Malaysia’s electronic economy”, Horizon is a complete and strategic publication devoted to showcasing the vibrant progress development in Malaysia’s digital economic system.

MDEC mentioned it features priceless insights and facts on the country’s digital landscape, serving as the go-to reference for worldwide and local stakeholders trying to find reliable info and knowledgeable views.

The publication encompasses three vital pillars: company, investors, and culture.

Moreover, it delves into topics these as Electronic Financial system At A Glance and Appear Ahead Over and above 2023, giving in-depth investigation, incisive commentary, and info-pushed insights that unravel the complexities and tendencies of the electronic financial state.

MDEC chief executive officer Mahadhir Aziz claimed the Data Department’s Details and Communication Engineering (ICT) Satellite Account (ICTSA), in results introduced in Oct past yr, discovered that when the nationwide GDP knowledgeable a decrease of 10.2 for each cent in 2020, the gross worth extra of the ICT sector witnessed a exceptional development of 10.5 per cent.

“The work advancement in the ICT sector has continued to speed up due to the fact 2021, outpacing other sectors that claimed negative or close to-damaging growth premiums. In 2021 by yourself, the ICT sector was responsible for making 44 per cent of the whole new careers in Malaysia.

“The foreseeable future of the digital economic system shines brighter than ever and Malaysia is well positioned on the horizon of a remarkably prosperous electronic foreseeable future,” he noted.

MDEC, he claimed, is dedicated to featuring extensive aid to both regional and international providers and prioritise upskilling and reskilling programmes to empower our digital skills.

“As a result of initiatives like Malaysia Digital (MD), we are devoted to developing a electronic ecosystem that nurtures innovation, empowers enterprises, and permits digital inclusion.

“We have identified nine promoted sectors less than the MD Catalytic Programmes that exhibit significant development likely, opportunity, and significance in accelerating Malaysia’s digital economic climate.

“It is crucial for the authorities, via the Ministry of Communications and Electronic, to spearhead strategic initiatives related to this dynamic area,” he included. – Bernama

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