The Ministry of Communications and Multimedia Minister has announced that MSC Malaysia will be renamed Malaysia Digital with enhancement to its function.
Minister Tan Sri Annuar Musa is looking to evolve MSC Malaysia to be more in line with the rapid shift of socio-economic norms and response to the constant advancements of digital technology.
“Since its introduction in 1996, MSC Malaysia has catalysed and transformed Malaysia into a knowledge-based economy. It was created to foster a conducive ecosystem driven by high-end infrastructure development and information and communications technology (ICT) companies’ catchment within the identified corridors,’’ he said in a speech during the opening of the Malaysia Digital Economy Week at Expo 2020 Dubai.
MSC Malaysia was the brainchild of then Prime Minister Tun Mahathir who was gearing Malaysia towards the Knowledge-based economy using technology, the goal was to help to drive the growth of the country’s digital economy. Currently, this stands for 22.6 percent of the national gross domestic product.
The sector has been identified as the digital economy and is one of Malaysia’s key economic growth areas which can propel the country into a new economic paradigm not in only here but also in the region.
According to the 12th Malaysia Plan, the digital economy is projected to contribute 25.5 percent to Malaysia’s GDP by 2025. Additionally, the government — via the Malaysia Digital Economy Corporation (MDEC) — will continue to drive the digital economy forward towards making Malaysia a globally competitive digital nation and digital hub of ASEAN.