Malaysia Digital Economy Blueprint 2021

The Blueprint was launched on February 19, 2021 by the Prime Minister of Malaysia. Below is the link to the Blueprint.

Key Highlights:

i) By 2025, the digital economy is expected to contribute 22.6 percent to the country’s Gross Domestic Product (GDP).

ii) At the same time, the plan also aims to provide 500,000 job opportunities in the digital economy.

iii) The government also encourages 875,000 micro, small and medium enterprises to accept the use of e-commerce.

iv) In addition, these initiatives under the auspices of MyDIGITAL also serve as catalysts for 5,000 start-up companies to begin their operations in the next five years.

v) These initiatives will be the starting point to attract new investments worth RM70 billion in the digital sector, from within and outside the country.

vi) The government is also targeting for the level of productivity of the economic sector to increase by 30 percent higher than what that has been achieved today, by 2030.

Three phases of implementation until 2030:

Phase 1: 2021 to 2022 - will strengthen the foundation of digital adoption.

Phase 2: 2023 to 2025 - will drive inclusive digital transformation.

Phase 3: 2026 to 2030 - will make Malaysia a digital content and cyber security lead in the regional market.

https://www.epu.gov.my/sites/default/files/2021-02/Malaysia-digital-economy-blueprint.pdf

Image - PwC and the Blueprint