Annuar: Malaysia banking on digital economy

Bright future ahead: Annuar says the region’s Internet economy is expected to grow to US$300bil by 2025. — Bernama

PETALING JAYA: Malaysia has placed much importance on digital economy by rolling out plans such as the National Digital Infrastructure Plan (Jendela) to boost digital connectivity in the country, says Communications and Multimedia Minister Tan Sri Annuar Musa.

This was also to prepare Malaysia for transition to 5G technology, he said.

He added that the gradual deployment of 5G would transform Malaysia into an innovation hub and attract new investments worth RM70bil in the digital sector from international and local investors.

This would help create new business opportunities and high-value jobs in Malaysia with an estimated 100,000 new jobs expected between 2021 and 2025, he said at the Dialogue on China-Asean Information Harbour yesterday.

He took part virtually in the dialogue held in Wuzhen, China’s Zhejiang province.

Annuar said the Covid-19 crisis had transformed digitalisation from healthcare services to online purchases and payments.

“Digital economy has the potential to be the key driver in developing new industries and areas of growth in Asean,” he said.

Citing the World Economic Forum, he said Asean had the world’s fastest expanding Internet market.

“In 2019, the region’s Internet economy hit US$100bil (RM418bil), three times more than the last four years. By 2025, the region’s Internet economy is expected to grow to US$300bil (RM1.25 trillion),” he said.

However, he cautioned that the rise of digital economy would also lead to cyber security threats.

“When it comes to potential in the cyber security industry, Malaysia is one of the best ranking countries in the region,” he said.

Annuar said the Malaysia Cyber Security Strategy 2020-2024 and the Cyber Security Empowerment Programme were part of efforts to tackle cyber security threats.

“At the Asean level, Malaysia is working together with Singapore, through our national cyber security agencies, to develop the Asean Plan of Action on the Implementation of Norms of Responsible States Behaviour in Cyberspace,” he said.