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Malaysia sets sights on digital economy

Since its inception in 1996, MSC Malaysia, formerly known as the Multimedia Super Corridor, has progressively moved Malaysia towards achieving the status of a knowledge-based economy.

Dubai: Eleven Malaysian ICT companies under the Malaysia External Trade Development Corporation, or Matrade, are participating in Gitex Technology Week in Dubai.

The participating companies will offer various competitive and innovative ICT products and services such as mobile application development, automated fleet management system, cloud computing, security data management and a range of other IT accessories and peripherals. These Malaysian companies have been successfully gaining foothold in many overseas markets, proving their global capabilities.

Since its inception in 1996, MSC Malaysia, formerly known as the Multimedia Super Corridor, has progressively moved Malaysia towards achieving the status of a knowledge-based economy. According to the MDeC, the national agency responsible in the growth of MSC Malaysia, the ICT initiative contributed slightly over $3.5 billion to the country’s gross domestic product in 2013.

Last year, the total number of MSC-status companies continued to grow, reaching 3,403 companies. Total exports from these companies in 2013 have increased by 7.4 per cent, valued in excess of $3.7 billion.

Cumulatively, the MSC Malaysia has contributed over $45 billion worth of investments, bringing more than 130,000 jobs within less than two decades of its existence.

Malaysia was ranked as the 30^th-leading ICT readiness country in the World Economic Forum’s Global Information Technology Report 2014, the second among the Association of Southeast Asian Nations after Singapore. The A.T. Kearney Global Services Location Index ranks Malaysia as the third-best global shared services outsourcing destination, the position that had been occupied since the inception of the Index in 2003, behind India and China.

Apart from being a preferred global outsourcing services destination, Malaysia is gradually progressing its local capabilities in the creative multimedia industry. Nowadays, creative contents produced by Malaysians are no longer confined to domestic viewers, but also expanding presence towards international audiences. In 2012, this industry has contributed slightly over $150 million worth of exports, offered by approximately 309 qualified firms.

Today, Malaysia is moving forward in the sector, deploying the Digital Malaysia 354 Roadmap. Digital Malaysia is a national programme based on three strategic thrusts to advance the country towards a developed digital economy by 2020. It encompasses three ICT focus areas, five sub-sectors and four Digital Malaysia communities.

“We have formulated and implemented the right directions and policies towards the growth of the country’s ICT industry, which has directly resulted in building up local ICT talents and innovations. The commendable multiple international rankings that Malaysia has attained thus far can testify our capabilities. Eleven selected companies are here to share their innovations and expertise, looking for potential business partners, which together will be able to contribute to the growth of the region’s ICT industry,” said Remee Yaakub, trade commissioner of Matrade Dubai.

business@khaleejtimes.com