Digital economy set to boom

by | Jan 26, 2023 | Business, LOCAL | 0 comments

World renown experts contend that Malaysia has the infrastructure in place already to be a regional leader in the field of the digital economy and should seize the opportunity to explore and exploit their potential to the full.

They say that several factors favour the development of the digital economy in Malaysia and the most important governmental initiative in this direction is the execution of the country’s Fourth Industrial Revolution Blueprint.

This move by the government is expected to benefit and hasten the digitalization process and, besides this, the data centres in the country have expanded rapidly in tandem with increased Internet usage.

According to these experts, the government’s focus on providing low electricity tariffs, a safe and reliable water supply system and tax incentives for start ups in the digital sector are some of the other factors in its favour.

Business opportunities that can be reaped include semiconductors as the essential parts of devices in the Internet of Things connected devices which will be in use globally as the data these devices generate must be processed and stored.

Malaysian companies can also benefit by supporting the manufacturing supply chain of materials used in producing Electric Vehicles such as battery manufacturing, battery cells and battery pack production.