Malaysia to accelerate the growth of its digital economy through Malaysia Digital

Launched on 4 July, the initiative aims to drive digital adoption among aspiring young entrepreneurs, companies, and the nation; attract high-value digital investments, and more.

As of Monday, 4 July 2022, Malaysia’s Prime Minister Datuk Seri Ismail Sabri Yaakob has launched Malaysia Digital — an initiative to accelerate the growth of the nation’s digital economy for the benefit of Keluarga Malaysia. This initiative will be driven by the Ministry of Communications and Multimedia (K-KOMM) through Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency.

Malaysia Digital is a national strategic initiative by the Government to encourage and attract companies, talents, and investment while enabling Malaysian businesses and the people to play a leading part in the global digital economy, MDEC said in a press release.​

Following MSC Malaysia, which was introduced in 1996 to transform Malaysia into a knowledge-based economy, Malaysia Digital's new framework "seeks to enhance the nation’s digital capabilities and boost the digital economy," MDEC added.

The initiative is bolstered by three key considerations – flexibility, agility, and relevance – which will pave the way for the nation’s ongoing and future efforts as well as add more Malaysia Digital Catalytic Programmes (PEMANGKIN) to meet the needs and demands of the future. 

It aims to address the following three strategic priorities:

1. Driving digital adoption among aspiring young entrepreneurs, companies and the nation
2. Supporting local tech companies to become ‘Malaysian Champions’ and successful international players
3. Attracting high-value digital investments.

To achieve these visions, the Government, through MDEC, will be introducing two initial Malaysia Digital Catalytic Programmes (PEMANGKIN): DE Rantau and Digital Trade. 

Per the press release, Malaysia Digital will allow Malaysia to better prepare for today’s ever-evolving landscape and "build the bedrock of a digital nation, ultimately benefitting the Rakyat, businesses, Government, and nation." To achieve this vision, the role of the industry is "equally important for an impactful implementation" of the Malaysia Digital initiative.

According to Tan Sri Datuk Seri Panglima TPr Annuar Haji Musa, Minister of Communications and Multimedia, Malaysia Digital is a testament to the continued efforts of the Ministry and MDEC to spur Malaysia’s digital economy, in line with the Ministry’s vision to establish a society that is informed, creative, and digitally cultured.

He added: “The digital transformation of the nation and the Rakyat will continue to be the priority of K-KOMM’s initiatives, as I believe that digital technology is no longer the vision of the future, but the reality of today. The launch of Malaysia Digital will serve as a stepping stone for the nation’s digital economy to achieve greater heights in the future.

“K-KOMM and MDEC will establish a dedicated platform for the industry to continuously participate and provide valuable feedback on Malaysia Digital, which will include private-sector representatives from relevant industry bodies and organisations as subject matter experts."

Leading the execution of Malaysia Digital will be the Malaysia Digital Coordination Committee (MD-CC), which will serve to coordinate the governance and operations of Malaysia Digital, including awarding Malaysia Digital status to companies. 

DE Rantau is a programme to boost digital adoption and promote professional mobility as well as drive tourism across the country, with the goal to establish Malaysia as the preferred digital nomad hub. At the same time, Digital Trade will drive interoperability and greater harmonisation of standards and regulatory approaches as well as to facilitate trade within and across borders.

Image / Malaysia Digital Economy Corporation Facebook

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