Logo of Phnom Penh Post newspaper Phnom Penh Post - ‘Malaysia banking on digital economy’

‘Malaysia banking on digital economy’

Content image - Phnom Penh Post
Malaysia’s Communications and Multimedia minister Annuar Musa says ASEAN’s internet economy is expected to grow to $300 billion by 2025. BERNAMA

‘Malaysia banking on digital economy’

Malaysia has placed much importance on digital economy by rolling out plans such as the National Digital Infrastructure Plan (Jendela) to boost digital connectivity in the country, says Minister of Communications and Multimedia Annuar Musa.

This was also to prepare Malaysia for transition to 5G technology, he said.

He added that the gradual deployment of 5G would transform Malaysia into an innovation hub and attract new investments worth 70 billion ringgit ($17 billion) in the digital sector from international and local investors.

This would help create new business opportunities and high-value jobs in Malaysia with an estimated 100,000 new jobs expected between 2021 and 2025, he said at the Dialogue on China-ASEAN Information Harbour on September 26.

He took part virtually in the dialogue held in Wuzhen of China’s Zhejiang province.

Annuar said the Covid-19 crisis had transformed digitalisation from healthcare services to online purchases and payments.

“Digital economy has the potential to be the key driver in developing new industries and areas of growth in ASEAN,” he said.

Citing the World Economic Forum, he said ASEAN had the world’s fastest expanding internet market.

“In 2019, the region’s Internet economy hit $100 billion, three times more than the last four years. By 2025, the region’s Internet economy is expected to grow to $300 billion,” he said.

However, he cautioned that the rise of digital economy would also lead to cyber security threats.

“When it comes to potential in the cyber security industry, Malaysia is one of the best ranking countries in the region,” he said.

Annuar said the Malaysia Cyber Security Strategy 2020-2024 and the Cyber Security Empowerment Programme were part of efforts to tackle cyber security threats.

“At the ASEAN level, Malaysia is working together with Singapore, through our national cyber security agencies, to develop the ASEAN Plan of Action on the Implementation of Norms of Responsible States Behaviour in Cyberspace,” he said.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • Nestle’s debut may spur dairy market

    Leading confectionery manufacturer Nestle plans to invest in Cambodia by setting up an operation in the near future, a move majorly hailed by local dairy farmers as a means of boosting the fresh milk market in the Kingdom. During a visit by a delegation led

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement