- A need to place a greater emphasis on promoting local participation
- Essential to focus on bridging the gaps and enriching the sector
THE National ICT Association of Malaysia (Pikom) on May 22 welcomed the new government of Malaysia under the stewardship of Dr. Mahathir Mohamad and the appointment of Gobind Singh Deo as the Communications and Multimedia Minister.
Pikom chairman Ganesh Kumar Bangah (pic) says, “Congratulations to Gobind Singh Deo for his appointment as the new Communications and Multimedia Minister. We believe the appointment of a lawyer to helm this fast-moving portfolio will ensure that the regulatory framework that governs the sector remains relevant and up to date. This will support the growth of the ICT industry in Malaysia.
“The Southeast Asian internet economy is expected to grow from US$50 billion to US$250 billion over the next seven years. The government’s efforts since the launch of the Multimedia Super Corridor in 1996 has put Malaysia in a leading position to benefit from this growth.
"It is important that the government’s support for the industry continues and we should not lose on this momentum so that we can truly become the internet capital of Southeast Asia.”
In the last few years the government has focused on enriching and enabling a more robust digital economy in Malaysia through many initiatives as part of its strategic digital drive.
“While ensuring that momentum is not lost, the government should place a greater emphasis on promoting local participation in the sector to ensure that local SMEs can participate in this growth,” Ganesh further elaborated.
E-commerce contributed an increased gross domestic product (GDP) of 6.1% or RM74.6 billion in 2016 as compared to 5.9% or RM68.3 billion in 2015. E-commerce is one of the fastest growing industries in Southeast Asia and is expected to grow from US$10 billion in 2017 to US$88 billion in 2025.
Pikom recently announced the launch of its inaugural Pikom SEA Dragon Venture Platform which aims to match Southeast Asian startups and scaleups with global investors (i.e. Private Equity, Venture Capital, etc.) who are seeking companies in the region to invest in. After a selection process and mentorship programme, 32 scaleups met with more than 40 investors at the recently concluded event.
The platform is one of the many initiatives to boost the tech industry under five chapters headed by Pikom; CIO Chapter, Outsourcing Malaysia, E-Commerce Malaysia Chapter, Pikom Cyber-security Chapter and Venture Investment Chapter.
“Pikom is an industry-led association that has been the voice of the technology industry for 32 years and we have transformed and worked together to drive the economic growth of the industry through our activities.
“Over the years, the industry has received tremendous support from agencies such as Malaysia Digital Economy Corporation (MDEC), Malaysia Venture Capital Management Bhd (Mavcap) and MDV. These agencies were all started while Dr. Mahathir was Prime Minister and have done a tremendous job over the last few years in putting Malaysia on the global technology map. Pikom looks forward to working with the new ministry and its agencies to ensure that Malaysia solidifies its leading position in the Southeast Asian internet economy,” adds Ganesh.
In 2020, Pikom will be hosting the 24th World Congress on Information Technology (WCIT) in Malaysia.
“The WCIT is regarded as the Olympics of the global tech world and we hope to be working hand in hand with the new ministry in working towards the success of the WCIT in Malaysia,” explained Ganesh.
“Malaysia needs to continue its focus on the internet economy as it is expected to be the fastest growing industry in the region with the biggest economic growth. It is essential that the new ministry focuses on bridging the gaps and enriching the sector with the right initiatives to keep Malaysia at the forefront of the global technology revolution,” ended Ganesh.
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