Malaysia pushes for digital economy development

     The Malaysian government recently launched a digital initiative, focusing on nine areas including digital tourism, digital trade, digital agriculture, and digital finance. Malaysia's competitiveness in the global digital revolution and the digital economy will promote the development of the digital economy.

     Malaysia has launched a talent plan and a digital trade plan to implement digital initiatives. The talent plan covers measures such as visa convenience, accommodation and work space, and convenient life services for "digital workers". It plans to build Malaysia into ASEAN's preferred "digital practitioner center" to promote digital technology exchanges. The development of transportation, retail, catering and other industries. Officials expect the plan to generate 60 million Malaysian ringgit (about 4.5 Malaysian ringgit per US dollar) in revenue for the local economy in its first year. The digital trade plan is committed to accelerating the development of e-commerce, accelerating the digital transformation of business, and promoting the facilitation of cross-border trade.

    The Malaysian Ministry of Communications and Multimedia has specially established the "Malaysian Digital Coordination Committee" to be responsible for the implementation, management and coordination of digital initiatives. A few days ago, 6 companies were certified as Malaysian digital enterprises, able to enjoy a series of incentive measures from the government and obtain investment and operation convenience.

    The digital economy is an important driving force of the Malaysian economy. Its contribution to the country's GDP is estimated to reach 22.6%, and it is expected to grow to 25.5% by 2025. The Malaysian government attaches great importance to and continues to provide policy support for the development of the digital economy. In 2021, Malaysia will launch a national e-commerce strategy roadmap 2.0 to strengthen policy implementation and supervision, improve the e-commerce ecology, and promote e-commerce growth by providing training for small and medium-sized enterprises and establishing a one-stop business portal. The government expects 875,000 micro, small and medium-sized enterprises to start e-commerce by 2025. In the same year, the Malaysian government launched a ten-year digital economy blueprint - "Digital Malaysia", proposing to invest in the construction of digital infrastructure such as 5G and ultra-large-scale data centers through public-private partnerships, and catalyze 5,000 start-ups in the next five years, etc. Target.

    A number of data show that the outside world continues to be optimistic about the investment prospects of the Internet industry in Malaysia. According to the "2021 Southeast Asia Digital Economy Report" released by Google, Temasek and Bain & Company, the scale of Malaysia's Internet economy will reach US$21 billion in 2021, a year-on-year increase of 47%, and it is expected to grow to US$35 billion by 2025. In 2021, Malaysia's e-commerce transaction      volume will reach MYR 1 trillion for the first time, and all Internet industries will rebound strongly with double-digit growth rates.