Digital economy to contribute 22.6% to GDP by 2025

SINGAPORE: The digital economy is expected to contribute 22.6% of Malaysia’s gross domestic product (GDP) and create about 500,000 jobs by 2025, says Science, Technology and Innovation Minister Datuk Seri Dr Adham Baba.(pic)

Adham said Malaysia has placed priorities on expanding the adoption of digital consumer tools (eCommerce and digital payments); attracting, training, and retaining digital talent; fostering digital entrepreneurial ventures; providing fast fibre optics and mobile broadband Internet access; as well as coordinating innovation between universities, businesses and digital authorities.

“The level of digital evolution helped cushion against the pandemic’s economic impact. For example, more digitally-evolved economies tend to derive a larger share of their GDP from high-tech sectors, where the workforce can shift to remote working more readily,” he said in his keynote address at the Huawei Asia Pacific Digital Innovation Conference 2022. — Bernama