Digital transformation key for Malaysia’s economic recovery

Malaysia must seize digital transformation opportunities, which are key for the country’s economic recovery efforts and can support the nation’s future economic resilience, said Datuk Seri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy). 

“The digital economy and technologies are crucial in helping businesses stay afloat, allowing students to continue learning, job seekers to continue upskilling through online courses, and families to stay connected,” he said at a virtual event, reports Bernama.  

Under the country’s MyDigital initiative, Malaysia aims to become a technologically advanced digitally-driven country and a regional leader in the digital economy by 2030, he said, adding that the digital economy is expected to contribute 22.6% to Malaysia’s gross domestic product and create 500,000 new jobs by 2025. 

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“There will also be more opportunities for businesses to build and expand, with digital revenue streams to increase cost efficiency through cloud technology,” he added, according to Bernama. 

The government aims to have 875,000 micro, small and medium enterprises embrace digital e-commerce by 2025, and aims to bring 80% of public service online by 2025.