Digital initiatives to contribute RM294b to GNI by 2020

PUTRAJAYA, Oct 19 (Bernama) -- Digital Malaysia will ramp up the contribution of high-value, knowledge-driven digital initiatives to 17% or over RM294 billion of the gross national income (GNI) by 2020 from 12.5% currently.

Prime Minister Datuk Seri Najib Razak said the Multimedia Development Corporation (MDeC) was mandated to lead the Digital Transformation Programme which will be called Digital Malaysia.

MDeC's role is to transform the economy to a digital economy with emphasis on innovation, creativity and productivity.

"MDeC has assured me that implementation of the first projects will begin in the first quarter of next year," he told reporters after chairing the 23rd Implementation Council Meeting and 14th MSC Malaysia International Advisory Panel here Wednesday.

Najib said Digital Malaysia has set a target of RM75 billion in GNI contribution from the digital transformation initiatives by 2020.

Together with the RM93 billion from the existing Information and Communications Technology (ICT) initiatives and RM126 billion expected from ICT initiatives in the Economic Transformation Programme (ETP) and Government Transformation Programme (GTP), it will bring the GNI contribution from Digital Malaysia to RM294 billion by 2020, Najib said.

"Digital Malaysia is a cornerstone of the National Transformation Policy," the Prime Minister said.

"By supporting the creation of a cohesive and holistic approach to achieve a truly digital nation, Digital Malaysia completes the National Transformation Agenda together with the ETP, GTP, Politic Transformation Programme and Rural Transformation Programme," he added.

According to Najib, the digital transformation initiatives will enable Malaysia to raise the ICT contribution to GNI to 17% by 2020 from 9.8% currently.

It will also enable Malaysia to be in the top 20 in the digital economy ranking by 2020, from its current 36th spot out of 70 countries, and also in the top 10 in the IMD World Competitiveness Scoreboard, from its current rank of 16 out of 59 nations.

Among the initiatives under the digital transformation programme are ensuring an eco-system and culture to allow entrepreneuring skills and spirit to flourish and converting start-up companies to e-commerce and online businesses.

Other initiatives include injecting greater creativity and promotion of thinking skills throughout the education system, commercialising in stages 300 intellectual property opportunities developed by universities, and encouraging venture capital to promote the creative industry.

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