Categories: 2021, industry, investors, National Recovery Plan, people

MDEC Optimistic on Digital Economy Prospects Following National Recovery Plan Announcement

CYBERJAYA, 21 JUNE 2021: The Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in digital transformation, is optimistic of the digital economy’s prospects following the announcement of the National Recovery Plan by the Prime Minister, YAB Tan Sri Muhyiddin Yassin.

MDEC is fully focussed on accelerating the digital transformation of the nation and strengthening our programmes across the board which will play a crucial role in our exit strategy from the Covid-19 crisis. Digital adoption will better equip the society and businesses to navigate in the new norm, enabling sustainability and growth in the long run. Now, more than ever, digitalisation will be both necessary and crucial.

In order to achieve this, MDEC will focus on four key thrust areas; New skills, Adoption, Disruptors and Investments. This forms the basis of MDEC’s N.A.D.I. Digital campaign, in line with our bid to realise Malaysia 5.0, enabling a nation that is deeply integrated with technology, providing equitable digital opportunities to the people and businesses.

MDEC recently rolled out the MyDigitalWorkForce Work In Tech (MYWiT) initiative, a training and hiring incentive programme aimed at boosting the digital business services sector as well as developing quality tech talents in Malaysia. RM100 million worth in training and salary incentives are being offered to sustain and boost Malaysia’s capabilities and capacities.

To further boost the growth of the country’s eCommerce market in ASEAN, the National Council of Digital Economy and 4IR (MED4IR) chaired by the Prime Minister recently endorsed the National eCommerce Strategic Roadmap (NESR) 2.0 following the achievements of NESR 1.0. MDEC is entrusted to lead the Project Management Office of the NESR 2.0 Taskforce with the mandate to oversee the successful implementation of NESR 2.0. Gross merchandise value (GMV) is expected to rise to US$30 billion in value by 2025.

The 2021 edition of the Malaysia Tech Month is also scheduled to be kicked off in August; a month-long curation of the very best in digital and technology keynotes, workshops and discussion panels to chart our digital economy forward. This platform will enable Malaysia to showcase to the world its world-class innovations and potential.

Malaysia remains one of the top investment destinations in the region, receiving foreign direct investments (FDI) worth RM81.9 billion in high quality investments involving technology, innovation, green technology and financial technology sectors. This development enabled more employment opportunities for the local skilled workforce, in line with Shared Prosperity Vision 2030 (SPV 2030) as outlined by the government.

MDEC is also collaborating with Malaysian Investment Development Authority (MIDA) to facilitate investment efforts related to the digital sector through the establishment of the Digital Investment Office (DIO), a fully-digital collaborative platform to coordinate and facilitate all digital investments. The objective of this endeavour is not only to create awareness on digital investments in the country but to also strengthen the coordination among all Investment Promotion Agencies (IPAs) in promoting and attracting new investments in this fast-evolving segment.

Download PDF


About Malaysia Digital Economy Corporation (MDEC)

Malaysia Digital Economy Corporation (MDEC) is the agency under the Ministry of Communications and Multimedia Malaysia leading the nation’s digital transformation for 25 years. MDEC’s agenda is Malaysia 5.0, enabling a nation deeply integrated with technology, providing equitable digital opportunities to the people and businesses.

In order to achieve this, we will focus on NADI Digital encompassing the four key thrusts of New skills, Adoption, Disruptors and Investments. This forms the basis of our overarching brand campaign that will drive our core programmes for the rakyat, business and investors. MDEC’s objective is for Malaysia to become a globally competitive digital nation, anchored on inclusivity, sustainability and shared prosperity, firmly establishing Malaysia as the Heart of Digital ASEAN.

#Malaysia5.0 #NadiDigital #SayaDigital #MHODA #MyMDEC #RadicalTransparency

To find out more about MDEC’s Digital Economy initiatives, please visit us at www.corpwebv3prd.wpengine.com or follow us on:
Facebook: @mymdec
Twitter: @mymdec

For media queries, kindly contact:
Dashika Gnaneswaran – dashika.gnaneswaran@mdec.com.my
Simon Yap – simon.yap@mdec.com.my