MyDIGITAL ~ What does this mean to Malaysia?

The global economy, Malaysia included, continues to endure the severe challenges of the COVID-19 pandemic. This black swan event has affected Malaysians of every ethnicity and social strata as well as workers in both the public and private sectors. Whole industries faced upheavals, and many of our day-to-day interactions are now conducted virtually.

To ensure that no Malaysian is left behind to catch the wave of digitalisation, the time has come for the Government to lay the foundations for the country’s transformation towards an advanced digital economy. This foundation means building the infrastructure, facilitating innovation and creating an ecosystem for all of us to contribute to bring forth higher standards of living, the fruits of which will be enjoyed by all Malaysians.

What is MyDIGITAL?

MyDIGITAL is a national initiative which symbolises the aspirations of the Government to successfully transform Malaysia into a digitally-driven, high income nation and a regional leader in digital economy.

The Malaysia Digital Economy Blueprint spells out the efforts and initiatives to deliver the aspirations of MyDIGITAL. The Blueprint charts the trajectory of the digital economy's contribution to the Malaysian economy and builds the foundation to drive digitalisation across Malaysia including bridging the digital divide.

Why MyDIGITAL?

MyDIGITAL is designed to complement national development policies such as the Twelfth Malaysia Plan (RMKe-12) and Wawasan Kemakmuran Bersama 2030 (WKB 2030). Digital economy was identified as a key economic growth area (KEGA) in realising WKB 2030, to make Malaysia a country which is developing sustainably with fair economic distribution as well as equitable and inclusive growth.

The use of internet and technology advancement contributes to the rapid growth of data, which is the future commodity. Nevertheless, countries risk creating digital divide if the response to digitalisation is not managed well. We must embrace digitalisation, and seize opportunities arising from this trend for our wellbeing, as well as to stay relevant and competitive.

What is Digital Economy?

Digital economy is defined as economic and social activities that involve the production and use of digital technology by individuals, businesses, and government.

Where are we going - vision and outcomes?

With MyDIGITAL, Malaysia will be able to successfully transform into a digitally-driven, high-income nation and a regional leader in the digital economy. MyDIGITAL aspires to enable the rakyat to embrace digitalisation to improve their quality of life and standard of living.

The Malaysia Digital Economy Blueprint’s vision is to be a regional leader in the digital economy and achieve inclusive, responsible and sustainable socioeconomic development.

Malaysia in 2025 will advance to achieve these targets

How do we achieve MyDIGITAL?

MyDIGITAL sets out the consolidated initiatives and targeted outcomes as it pertains to the rakyat, business and the government, across three phases of implementation up to 2030.

All these benefits will be delivered through 6 strategic thrusts, 22 strategies, 48 national initiatives and 28 sectoral initiatives via the Malaysia Digital Economy Blueprint.

Key thrusts and strategies

• Phase 1 (2021 - 2022)
  Aims to accelerate adoption towards strengthening the digital foundation needed for the rapid and smooth rollout of Phase 2 and Phase 3.
  
  
• Phase 2 (2023 - 2025)
  Focus shifts to driving digital transformation and inclusion across the digital economy, emphasising inclusivity among the rakyat and all levels of businesses.
  
  
• Phase 3 (2026 - 2030)
  Chart the pathway for strong, sustainable growth in the decades to come, positioning Malaysia to become a regional market producer for digital products and digital solutions provider.

SOURCE: ECONOMIC PLANNING UNIT, PRIME MINISTER’S DEPARTMENT

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