KHALEEJ TIMES, Saturday, Jan 15, 2022 | Jamada
Al-Aakhirah 11, 1443
UAE, Malaysia look to strengthen digital economies
Emirates:
Investors from the UAE that are looking towards initiatives which will
strengthen the digital economy of the country should look towards the ASEAN
economies, especially Malaysia, which has long stood as a beacon of innovative
digital technologies, officials said at the Malaysia Digital Economy Week at
Expo 2020 Dubai.
The Malaysian Communications and Multimedia Ministry, together with Malaysia
Digital Economy Corporation (MDEC), recently kicked-off the event at the
Malaysian Pavilion of the world expo, which is set to generate RM300 million
worth of potential trade and investment opportunities, as well as securing 50
business leads from across the globe.
The Digital Economy Week at Expo 2020 Dubai marks the soft launch of Malaysia
Digital, the enhanced and revamped programme succeeding the MSC Malaysia, which
has been in operation for 25 years. The new and enhanced initiative will serve
to accelerate Malaysia’s digital economy and create substantial digital economic
spill-over through equitable access to digital tools, knowledge, and income
opportunities. Malaysia Digital is also set to enhance Malaysia’s value
proposition to attract digital investments through a new framework centred on
three primary components: Agility, Flexibility, and Relevance.
“We are definitely refreshing the multimedia supercorridor offering that we
launched 25 years ago,” Mahadhir Aziz, CEO of MDEC, told Khaleej Times.
“Malaysia has actually undergone many transformations in incorporating the use
of digital technologies into our economic activities, especially in terms of
capacity and ecosystem building exercises. We have also looked at training basic
literacy in using digital technologies as well as financial literacy, so we now
have a set of citizens that are primed and ready to engage the global community
and be part of a workforce that is increasingly working remotely.”
“The announcement of Malaysia Digital in Expo 2020 Dubai comes as timely and
relevant, as the improved processes and incentives will be crucial to accelerate
Malaysia’s economic recovery as we exit the Covid-19 pandemic. In line with the
Twelfth Malaysia Plan (12MP), the revamped and enhanced Malaysia Digital will be
key towards achieving the goals set forth by the Malaysia Digital Economy
Blueprint (MyDIGITAL), which targets RM70 billion in investments by 2025,” said
YB Tan Sri Datuk Seri Panglima TPr Haji Annuar bin Musa, minister of
Communications and Multimedia.
Under the Malaysia Digital initiative, the Government and MDEC will also be
introducing two initial catalytic projects, namely DE Rantau and Malaysia
Digital Trade. DE Rantau is a programme with the goal to establish Malaysia as
the preferred Digital Nomad Hub in a bid to boost digital adoption and to
promote digital professional mobility and tourism across the country. Malaysia
Digital Trade, on the other hand, is one of the catalytic initiatives under
Malaysia Digital to capitalise on the immense opportunities in digitalisation
that has been accelerated by the recent COVID-19 pandemic. The Malaysia Digital
Trade initiative will drive interoperability and greater harmonisation of
standards and regulatory approaches as well as to facilitate trade within and
across borders.
“These new projects are powered by MDEC’s mission to drive the digital economy
through catalytic, high-impact initiatives, as well as strategic and sustainable
investments and inclusive policies. Malaysia Digital will be the fuel to
skyrocket the digital economy to new heights, as well as to nurture a
progressive, equitable, and innovation-led digital economy in line with the
United Nation’s Sustainable Development Goals (UN-SDG),” Aziz explained.