MDEC Pledges Unequivocal Support To Ensure Success of MyDIGITAL, Malaysia’s Digital Economy Blueprint
By Rais Hussin February 17, 2021
- MyDIGITAL to provide clear roadmap for digital transformation of Malaysia
- Advocates human-centric approach centred on using technologies responsibly
The Malaysia Digital Economy Corporation (MDEC) pledges its unequivocal support and commitment towards making the Government’s Digital Economy Blueprint - MyDIGITAL, a key driver of national development and success.
[Ed: The digital economy blueprint will be launched on Fri morning by Malaysian Prime Minister Muhyiddin Yassin.]
MyDIGITAL aims to provide a clear roadmap for the digital transformation of Malaysia in its pursuit of the Shared Prosperity Vision 2030 to achieve social well-being, environmental sustainability and equitable economic development for the country. The blueprint advocates a human-centric approach centred on using technologies responsibly, preserving human values and cultural heritage.
The digital economy is expected to continue its significant contribution to growth this year based on an estimated 20% contribution to GDP in 2020 by the Department of Statistics Malaysia, following a forecast of 6.7% economic growth for 2021 by the World Bank.
MDEC, with the full support of the Ministry of Communications and Multimedia will continue to lead the digital economy forward centred on ensuring shared prosperity for the many to realise Malaysia's ambition to be the Heart of Digital ASEAN,
We are focused on our three strategic thrusts; empowering Digitally Skilled Malaysians, accelerating Digitally-Powered Businesses and attracting Digital Investments. MDEC is in full execution mode, rolling out key initiatives announced in Budget 2021 to ensure our society is able to fully leverage and benefit from the Fourth Industrial Revolution technologies.
Our vision of Malaysia 5.0 complements the holistic MyDIGITAL blueprint, encouraging the creation of a society deeply integrated with technology, governed by inclusive and equitable environmental principles and practices. The three main components of Malaysia 5.0 are as follows:
- First, instilling a new core identity philosophy that transcends individual and societal divides and uphold the value of shared prosperity.
- Second, adopt, value-add and produce digital transformation and 4IR technologies centred on solving eco-environmental problems.
- Third, produce well-rounded citizens who are well-positioned and empowered to face, navigate and thrive in 4IR.
From a digital skills and jobs perspective, MDEC has accelerated its efforts to expand the digital capabilities of Malaysians. Initiatives such as ‘Let’s Learn Digital’ continue to upskill and reskill Malaysians. To date, more than 3,800 free courses have been offered, receiving more than 21,000 successful applications. The MyDigitalmaker initiative has benefitted some 1.6 million school students nationwide.
Each year, our Premier Digital Tech Institutions (PDTI) produce an average of 7,800 graduates with an average graduate employment rate of 95% achieved in 2018/19. More than 240 lecturers have learned and immersed themselves with the latest industry technologies via ecosystem partnerships. We have also seen more than 25,000 students enrolled in digital tech courses in 2019, a 40% increase from when the initiative started in 2017.
In our efforts to digitalise and automate businesses, we have rolled out various initiatives including the 100GoDigital, SME Digital Accelerator, Smart Automation Grant, SME Digital Quickwins to ensure small businesses are properly equipped to navigate the benefits and challenges of the digital economy.
To date, 335,834 SMEs have been on-boarded onto e-commerce marketplaces and we will intensify our outreach here. I am grateful that our SME initiatives have attracted numerous partners such as the telcos and banks to jointly support the SMEs and entrepreneurs on their digitalisation journey.
On digital investments, Malaysia has attracted RM345 billion investments to date, creating close to 185,000 jobs. In 2020 alone, new investments by pure-play technology companies stood at RM3.98 billion, while new investments recorded by digital services companies were RM2.01 billion. These investments created approximately 9,000 new jobs.
I believe Malaysia has got what it takes and we at MDEC will give what we have got to ensure that together, we will make the Digital Economy Blueprint - MyDIGITAL – the only way forward towards realising a shared future of prosperity for all Malaysians in line with the vision of Malaysia 5.0.
Dr Rais Hussin Mohamed Ariff is chairman, Malaysia Digital Economy Corporation (MDEC)