Dato’ Sri Mustapa Bin Mohamed, Economy Minister from the Prime Minister Office through a statement has disclosed 5 must know about the current Rangka Tindakan (Blueprint) Ekonomi Digital Malaysia. The government found some shortcomings and gaps in the economic system during the MCO implementation and sees that it must be resolved immediately. The Blueprint emphasises humanitarian-centered values, to see a shift in the digital economy landscape towards increased digital literacy and here are 5 things to know about it.
- What Is the Blueprint?
Pelan Pembangunan Ekonomi Digital Kerajaan – MyDIGITAL, is a government agenda, an extension from the 1996’s Multimedia Super Corridor or Multimedia Super Corridor (MSC) that covers various aspects, to drive digitalisation efforts in Malaysia. The Blueprint has introduced several initiatives:
- National Digital Network (JENDELA) to strengthen existing connectivity or connectivity.
- 5G implementation nationwide.
- Cloud Service Provider (CSP) or cloud service provider.
- What is the potential of the Malaysian Digital Economy Blueprint?
Among the key targets of this Blueprint are as follows:
To the people:
- 500,000 new jobs created
- 100% of households have access to the internet
- All students have access to online learning
Among the five -year targets for the business sector:
- 22.6% contribution of the digital economy to Malaysia’s GDP
- 875,000 micro, small and medium enterprises (SMEs) e-commerce
- Attracting 2 unicorn companies
- Increase the number of start-up companies to 5,000 companies
- RM70 billion investment in digitisation
- What are the strategies of the Blueprint in ensuring that the vision of the digital economy can be achieved?
The three objectives are:
- Encouraging industry players to become creators, consumers and adopters of innovative business models under the digital economy
- Leverage human capital in the digital economy
- Creating an integrated ecosystem to enable society to dominate the digital economy
The Blueprint’s six clusters that are chaired and led by Minister and Chief Secretary are:
- Digital Talent – Minister of Human Resources
- Digital and Data Infrastructure – Minister of Communications and Multimedia Malaysia
- Emerging Technologies – Minister of Science Technology and Innovation
- Economy – Minister of International Trade and Industry
- Society – Minister of Women, Family and Community Development
- Government – Chief Secretary to the Government (KSN)
Each cluster will be monitored by the secretariat and the Strategic Change Management Office (SCMO) will be established by the end of March 2021 and regulated by the Economic Planning Unit.
- What is the time frame for the implementation of the Blueprint?
The implementation is divided into three phases:
- Phase 1: Accelerate adoption to strengthen the digital foundation (2021-2022)
- Phase 2: Driving digital transformation and inclusion (2023-2025)
- Phase 3: Become a digital product manufacturer and provider of digital solutions for regional markets (2026-2030)
- What is the outcome of the Blueprint that we can expect?
By 2025, the digital economy is projected to account for 22.6% of the country’s Gross Domestic Product. MyDIGITAL initiative aims to generate 500,000 jobs in the digital economy, aid 875,000 micro, small and SMEs to use e-commerce and are potential to catalyse 5,000 start-up companies or businesses in the next five years, with the aim of attracting unicorns to operate here.
Dato’ Sri Mustapa Bin Mohamed ends the statement with his hopes that every citizen of all demographics and background will take the advantage of digital technology as the Blueprint is designed to take into account each and every Malaysian.
Read and download the full Blueprint PDF here.