Restructured to meet digital economy challenges

Rais Hussin says people are ultimately the drivers of digital transformation.

MALAYSIA Digital Economy Corporation (MDEC) underwent organisational restructuring to reinvent its role as the leader of Malaysia’s digital economy.

MDEC appointed four industry trailblazers to its board of directors and further affirmed its commitment towards delivering more for less at speed, addressing disruption of the new norm and improving its standard of governance.

Recognising that digital transformation and adoption was crucial to capitalise on new opportunities, MDEC said in a statement that it was confident the new leadership structure would enable mass outreach and achieve its vision of Malaysia 5.0 –- a people-first society in the age of 4IR technology.

The reinvented MDEC will introduce four strategic focus areas –- Digital MDEC, Digitally Powered Businesses, Digital Investments and Digitally Skilled Malaysians -– driven by a newly-constituted MDEC operating council comprising five divisions: Strategy; Adoption (Demand); Industry (Supply); Investment and Brand; as well as Skills and Jobs.

MDEC said that implementing the right, lean, new leadership structure was key to executing at speed, expanding mass outreach and creating a measurable socio-economic impact in a digital-first future.

Digital MDEC will prioritise strategic national alignment and the complete digitalisation of all MDEC’s processes and services.

It will also implement recommendations from the holistic governance review.

Digitally Powered Businesses will drive two specific thrusts -– driving digital adoption among businesses and scaling digital industry players.

Digital Investments aim to attract investments in the catalytic digital-tech sectors and 4IR technologies.

The main thrust of Digitally Skilled Malaysians will be on reskilling, job matching and the sharing (gig) economy.

Together, the four strategic focus areas and five divisions will be instrumental in firmly establishing Malaysia as the “Heart of Digital Asean.”

“We are entering the second decade of the 21st century and we will have to face the massive impact of escalating digital transformation and the 4IR, ” said MDEC chairman Datuk Dr Rais Hussin Mohamed Ariff.

“It questions our existing culture, ways of thinking and doing, communicating and governance and management models.

“However, people are ultimately the drivers of digital transformation.

“I envision a Malaysia that places society at the centre of 4IR technology, and this reinvention of MDEC will help us make the vision of Malaysia 5.0 a reality, ” he added.

With the four strategic focus areas and cross-division agile teams, MDEC expects to break down silos and drive both synergies and efficiencies across teams.

“This reinvention will enable us to execute more with speed, places us in a better position to support the people, industry, investors and government, and addresses significant lapses in our governance, ” said MDEC chief executive officer Surina Shukri.

“We are on the path of change and there is no looking back.

“Disruption and change are the new normal.

“We must advocate the transformative opportunities it offers and reinvent ourselves accordingly to meet the demands of the new digital frontier, ” she noted.

Malaysia is on track to achieve its bold aspiration to become the Heart of Digital Asean.

The country ranks eighth within the Asia-Pacific region in the Global Innovation Index 2020, which ranks the innovation capacities of 131 economies in the world, and 11th in Startup Genome’s Global Startup Ecosystem Report 2020, which ranks the top 140 startup ecosystems globally.

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