Malaysians need to seize opportunities in Digital Economy, says MDEC

Malaysians need to seize opportunities in Digital Economy, says MDEC

10 Nov 2020

Malaysians need to seize the opportunities provided by the digital economy as it will be a key driver to economic growth in the long term.

Malaysia Digital Economy Corporation (MDEC) chief marketing officer Raymond Siva said the demand in e-commerce has grown exponentially in the Covid-19 era.

“E-commerce is an important component of the digital economy and it will keep growing. Malaysians and businesses should take advantage, especially in the context of Covid-19.

“The pandemic has abruptly increased the need for digitalisation as people are adapting to the new norms of working from home.

“The segment (digital economy) is forecast to grow by 20 per cent to the economy this year,“ he told a press conference in conjunction with the launch of the Malaysia Technology Month 2020 (MTM 2020) month-long campaign here, today.

He noted that the forecast was initially reported by the Department of Statistics Malaysia with the e-commerce sector expected to exceed RM110 billion in revenue by 2020, which is equivalent to 40 per cent of the nation’s digital economy.

The MTM 2020 aims to fortify Malaysia’s role in expanding the digital economy and its first-mover position in the ASEAN region while drawing attention to the country’s readiness in leveraging opportunities that the Fourth Industrial Revolution (IR4.0) will spur.

The campaign enables a platform for a wide-ranging array of events, highlighting multiple collaborations with industry partners.

Siva said industry players should share their challenges, successes and innovations that they have developed, especially over the last six months, and inspire the next generation of digital-tech entrepreneurs.

Source: Bernama Posted on : 10 November 2020