PIKOM, the National Tech Association of Malaysia, plays an indispensable role, driving Malaysia’s Digital Economy forward and in a sustainable manner. With over a thousand member companies, commanding 80% of the tech business, PIKOM’s influence has transcended boundaries throughout the country, regionally and also on the global stage.
[Pic above – PIKOM Chairman Ong Chin Seong (centre right) with Deputy Chairman Alex Liew (centre left), PIKOM Advisor and Research Committee Chair Woon Tai Hai (far right) and CEO Ong Kian Yew.]
PIKOM’s enduring commitment to Malaysia’s Digital Economy growth is evident through its impactful initiatives. From fostering innovation through collaborations to advocating for digital inclusivity and nurturing the tech workforce of tomorrow, PIKOM has been at the forefront of industry dynamics all these years.
Under the visionary leadership of Chairman Ong Chin Seong, PIKOM has reached new heights, marking a significant milestone in Malaysia’s tech landscape. Industry insiders have commended the organisation’s remarkable progress.
“PIKOM’s most notable achievement lies in its unwavering commitment to innovation, benefitting Malaysia as a whole,” said an industry source to Business Today.
“Through strategic alliances with industry leaders and academia, PIKOM has created an environment conducive to tech innovation and research. This collaborative spirit has led to groundbreaking solutions, cementing Malaysia’s status as a regional hub for technological advancement.”
“Moreover, PIKOM’s unwavering dedication to digital inclusivity has been a driving force in Malaysia’s digital transformation. Initiatives aimed at bridging the digital divide ensure that the digital era’s benefits are accessible to all Malaysians, regardless of their socio-economic backgrounds or locations.”
Critically, PIKOM is nurturing the workforce of the future. Through extensive skills development programs, mentorship initiatives, and strategic industry-academia partnerships, PIKOM is equipping the nation with a tech-savvy talent pool capable of navigating the digital age’s challenges and opportunities.
The evidence is compelling. Just last week, PIKOM announced a remarkable projection: Malaysia’s Digital Economy is poised for substantial growth, with an expected contribution of 24.4% to the nation’s GDP in 2023, surging to an impressive 25.5% in 2024.
Deputy Chairman Alex Liew stated during a press conference, “[This] signifies strong upward momentum, considering the targeted achievement of 25% [GDP contribution] by 2025.”
This announcement coincided with the release of PIKOM’s Economic and Digital Job Market Outlook 2023 report, an annual publication dating back to 2007.
Meanwhile, PIKOM Advisor and Research Committee Chair Woon Tai Hai revealed that tech industry salaries saw double-digit growth, averaging 13.9%. He emphasised that while a single exceptional year should not predict future growth, the overall trend is positive, with an average annual growth rate of 6.45% over the past decade.
Regarding the healthy contribution of the digital economy to Malaysia’s GDP, Woon expressed hope for government policies that encourage its continued growth.
The report also included a CEO salary comparison across 22 industries in Malaysia, highlighting that IT CEOs rank among the highest-paid, alongside oil and gas and the financial sector.
When benchmarking Malaysia’s tech salaries against 20 other global economies, Malaysia ranked 17th, outperforming countries like Japan, India, the Philippines, and Indonesia. However, Woon noted ongoing challenges related to tech talent retention and competition from neighboring countries like Singapore and Thailand.
Additionally, the report addressed the impact of generative AI on the tech landscape, suggesting the need for upskilling the current workforce.
PIKOM CEO Ong Kian Yew emphasised that benchmarking technology salaries provides insight into Malaysia’s competitive position globally, fostering innovation and informing policy-making.
The association remains attuned to evolving regional and global trends. In response to Indonesia’s recent TikTok Shop ban, Ganesh Kumar Bangah, a PIKOM Advisor and Chair of e-Commerce Malaysia (pic – with Prime Minister Dato’ Seri Anwar Ibrahim at a PIKOM dinner), issued a press statement advocating for a thoughtful and constructive dialogue with TikTok Shop, as reported by Business Today last week.
Ganesh highlighted the need for a careful examination of TikTok Shop’s impact on Malaysia’s digital landscape and suggested proactive engagement, capacity building, community investment and local prioritisation as essential steps.
He underlined the importance of balanced regulations and equitable contributions to the Digital Economy, advocating for a collaborative future where global and local digital entities work together for a thriving, equitable, and sustainable Digital Economy.
All in all, PIKOM stands as an unwavering cornerstone in the foundation of Malaysia’s Digital Economy, demonstrating unwavering commitment, visionary leadership and innovative initiatives. Its impact resonates not only within the nation but reverberates globally, driving economic growth, fostering inclusivity, and nurturing talent for a digital future.
As Malaysia charts its course in the digital age, PIKOM remains instrumental, guiding the way towards a thriving, equitable and sustainable digital frontier.
Its role as a catalyst for innovation, an advocate for inclusivity and a champion for Malaysia’s digital potential is a testament to its enduring importance in shaping the nation’s digital destiny.
