Malaysia make Great Strides as a Leading Digital Economy

5 July 2021

Malaysia’s digital economy amassed RM289 billion, accounting for 19.1% of GDP in 2019. This is driven by the rapid growth of e-commerce, with gross merchandise value (GMV) expected to grow to reach a total value of US$11.4 billion in 2020. Malaysia also leads ASEAN in e-wallet usage at 40%.

Launched in February 2021, the MyDIGITAL Blueprints aims to transform Malaysia into a digitally-driven, high-income nation and a regional leader in the digital economy. MyDIGITAL outlines several targets for 2025:

  • 100% of Malaysian households will have Internet access,
  • the digital economy to account for 22.5% of GDP,
  • RM70 billion in digital investment,
  • RM3.6 billion revenue from the local data centre industry,
  • 875,000 SMEs adopting e-commerce, and
  • 500,000 jobs in the digital economy.

Building an inclusive digital economy requires both public and private actors to deliver investments and craft forward-thinking strategies in four key areas: digital policymaking, cloud and data centre investments, the e-commerce ecosystem and digital talent.

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