Malaysia's digital economy expected to contribute 25.5 percent of GDP by 2025
Malaysia's digital economy is on course to achieve a contribution to GDP of at least 25.5 percent by 2025, said Minister in the Prime Minister's Department for Economic Affairs Mustapa Mohamed.
Kuala Lumpur (VNA) – Malaysia's digital economy is on course to achieve a contribution to GDP of at least 25.5 percent by 2025,
said Minister in the Prime Minister's Department for Economic Affairs Mustapa
Mohamed.
Nevertheless, the country lives in a dynamic and competitive environment today, beset with uncertainties, he said in his opening remarks at a virtual dialogue on digital economy on March 1.
Malaysia has much to do to meet the aspirations of the MyDIGITAL initiative, to transform Malaysia into a digitally-enabled and technology-driven high-income nation, and a regional leader in the digital economy, the minister noted.
Mustapa said a key feature of the MyDIGITAL initiative that is crucial to its success is the whole-of-nation approach that it has adopted.
Under this approach, the participation of all stakeholders is highly welcomed to enable the nation to realise the benefits and overcome the challenges of digitalisation.
The aim of this approach is to work together, to achieve the vision and objectives set in the blueprint and the Fourth Industrial Revolution policy, while ensuring no one is left behind, and key economic, social, and environmental challenges are recognised and addressed, he said.
In 2020, the digital economy contributed 22.6 percent to Malaysia’s GDP.
Mustapa said e-commerce, in particular, experienced significant growth of 26.5 percent, with the e-commerce income of businesses seeing a jump of 17.1 percent year-on-year in the third quarter of 2021, amounting to 279 billion MYR (66.5 billion USD)./.
Nevertheless, the country lives in a dynamic and competitive environment today, beset with uncertainties, he said in his opening remarks at a virtual dialogue on digital economy on March 1.
Malaysia has much to do to meet the aspirations of the MyDIGITAL initiative, to transform Malaysia into a digitally-enabled and technology-driven high-income nation, and a regional leader in the digital economy, the minister noted.
Mustapa said a key feature of the MyDIGITAL initiative that is crucial to its success is the whole-of-nation approach that it has adopted.
Under this approach, the participation of all stakeholders is highly welcomed to enable the nation to realise the benefits and overcome the challenges of digitalisation.
The aim of this approach is to work together, to achieve the vision and objectives set in the blueprint and the Fourth Industrial Revolution policy, while ensuring no one is left behind, and key economic, social, and environmental challenges are recognised and addressed, he said.
In 2020, the digital economy contributed 22.6 percent to Malaysia’s GDP.
Mustapa said e-commerce, in particular, experienced significant growth of 26.5 percent, with the e-commerce income of businesses seeing a jump of 17.1 percent year-on-year in the third quarter of 2021, amounting to 279 billion MYR (66.5 billion USD)./.
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