Malaysia eyes $9.9B in ICT investments by 2020

Malaysia eyes $9.9B in ICT investments by 2020

Summary: Government's Digital Malaysia initiative looks to boost ICT contribution to country's gross national income, with projects such as e-payment services for SMBs ongoing, according to report.

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The Malaysia government expects to generate about 31.2 billion ringgit (US$9.9 billion) worth of public-private partnership investments from its Digital Malaysia initiative by 2020.

The Sun Daily reported on Thursday that the figures were revealed by Multimedia Development Corporation (MDeC) CEO Badlisham Ghazali. He said eight ICT projects have already been approved this year and will be rolled out in phases, with more in the pipeline.

Launched last October, the Digital Malaysia initiative is a national project that hopes to increase the ICT sector's contribution to its gross national income (GNI) to 17 percent, or 294 billion ringgit (US$93.2 billion), by 2020.

Badlisham said the one of the eight ongoing projects include the Asian e-Fulfillment Hub, which aims to turn Malaysia into Asia's hub for cross-border e-commerce shipment. It is expected to attract 620 million ringgit worth of investments and create 1,622 jobs, and contribute 287 million (US$91 million) to the country's GNI in 8 years' time.

Another project highlighted by Badlisham was e-payment services for small and midsize businesses (SMBs) and micro enterprises. This is expected to bring about 600 million ringgit (US$190 million) in investments, create 2,000 new job opportunities, and contribute 5 billion ringgit (US$1.6 billion) to the GNI, the Sun Daily reported.

 

Topics: E-Commerce, Government Asia, Malaysia, Tech Industry

Liau Yun Qing

About Liau Yun Qing

The only journalist in the team without a Western name, Yun Qing hails from the mountainy Malaysian state, Sabah. She currently covers the hardware and networking beats, as well as everything else that falls into her lap, at ZDNet Asia. Her RSS feed includes tech news sites and most of the Cheezburger network. She is also a cheapskate masquerading as a group-buying addict.

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  • Malaysia was a nice place to work ...

    Spent a couple of years in Penang, people were very friendly, worked hard, and it was cheap to stay there. This was before 9/11, things got a little bit more tense since then, but I'd still consider working there again. Lots of people with IT knowledge looking for a "spark" to make them innovative and profitable. Maybe the continued government investment will make it happen.
    terry flores
  • Where Are The Startups?

    What are the private companies doing? Does everything have to be done in concert with the Government?
    ldo17