UAE, Malaysia look to strengthen digital economies
From L to R: Mahadhir Aziz, CEO of MDEC; YB Tan Sri Datuk Seri Panglima TPr Haji Annuar bin Musa, minister of Communications and Multimedia; and Tuan Mohd Hasril Abdul. Hamid, consul general of Malaysia in Dubai
Dubai - Under the Malaysia Digital initiative, the Government and MDEC will also be introducing two initial catalytic projects, namely DE Rantau and Malaysia Digital Trade
Investors from the UAE that are looking towards initiatives which will strengthen the digital economy of the country should look towards the ASEAN economies, especially Malaysia, which has long stood as a beacon of innovative digital technologies, officials said at the Malaysia Digital Economy Week at Expo 2020 Dubai.
The Malaysian Communications and Multimedia Ministry, together with Malaysia Digital Economy Corporation (MDEC), recently kicked-off the event at the Malaysian Pavilion of the world expo, which is set to generate RM300 million worth of potential trade and investment opportunities, as well as securing 50 business leads from across the globe.
The Digital Economy Week at Expo 2020 Dubai marks the soft launch of Malaysia Digital, the enhanced and revamped programme succeeding the MSC Malaysia, which has been in operation for 25 years. The new and enhanced initiative will serve to accelerate Malaysia’s digital economy and create substantial digital economic spill-over through equitable access to digital tools, knowledge, and income opportunities. Malaysia Digital is also set to enhance Malaysia’s value proposition to attract digital investments through a new framework centred on three primary components: Agility, Flexibility, and Relevance.
“We are definitely refreshing the multimedia supercorridor offering that we launched 25 years ago,” Mahadhir Aziz, CEO of MDEC, told Khaleej Times. “Malaysia has actually undergone many transformations in incorporating the use of digital technologies into our economic activities, especially in terms of capacity and ecosystem building exercises. We have also looked at training basic literacy in using digital technologies as well as financial literacy, so we now have a set of citizens that are primed and ready to engage the global community and be part of a workforce that is increasingly working remotely.”
“The announcement of Malaysia Digital in Expo 2020 Dubai comes as timely and relevant, as the improved processes and incentives will be crucial to accelerate Malaysia’s economic recovery as we exit the Covid-19 pandemic. In line with the Twelfth Malaysia Plan (12MP), the revamped and enhanced Malaysia Digital will be key towards achieving the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in investments by 2025,” said YB Tan Sri Datuk Seri Panglima TPr Haji Annuar bin Musa, minister of Communications and Multimedia.
Under the Malaysia Digital initiative, the Government and MDEC will also be introducing two initial catalytic projects, namely DE Rantau and Malaysia Digital Trade. DE Rantau is a programme with the goal to establish Malaysia as the preferred Digital Nomad Hub in a bid to boost digital adoption and to promote digital professional mobility and tourism across the country. Malaysia Digital Trade, on the other hand, is one of the catalytic initiatives under Malaysia Digital to capitalise on the immense opportunities in digitalisation that has been accelerated by the recent COVID-19 pandemic. The Malaysia Digital Trade initiative will drive interoperability and greater harmonisation of standards and regulatory approaches as well as to facilitate trade within and across borders.
“These new projects are powered by MDEC’s mission to drive the digital economy through catalytic, high-impact initiatives, as well as strategic and sustainable investments and inclusive policies. Malaysia Digital will be the fuel to skyrocket the digital economy to new heights, as well as to nurture a progressive, equitable, and innovation-led digital economy in line with the United Nation’s Sustainable Development Goals (UN-SDG),” Aziz explained.