KUALA LUMPUR: It is important to maintain the growth of the country’s digital economy and increase its contribution to gross domestic product (GDP) from 23% last year to 25% in 2025, said Malaysia Digital Economy Corporation (MDEC) chairman Syed Ibrahim Syed
“To ensure that we meet the target, we are getting a lot of foreign investments, in the words of the prime minister and the ministers, I think that can be done and I hope we can surpass the GDP contribution by next year,” he said at the launch of Simplify Networks Sdn Bhd’s Thunderbird 5G Router on Friday.
“The Malaysian Institute of Economic Research projects that 5G will contribute significantly to our GDP in the coming years, with an estimated annual growth of 8% and this growth will extend throughout various key sectors such as agriculture, healthcare, manufacturing, and more in catalysing overall economic advancement,” he added.
Syed Ibrahim said that In conjunction with Malaysia being the chair of Asean in 2025, this will elevate the country as the preferred Asean digital hub. “Now we have foreign investments coming in from Microsoft, Google, Nvidia and others. I think it’s going to be very reachable and it is good for the country,” he remarked.
By addressing the evolving needs of micro, small and medium enterprises, MDEC aims to fortify its position in today’s dynamic global landscape and this collaboration makes it strive to realise Malaysia’s broader vision of becoming the digital hub of Asean, Syed Ibrahim said.
Simplify Networks, a technology startup that brings the sharing economy to the broadband space, launched its Thunderbird 5G router which appears as a pioneering achievement in telecommunications technology.
Syed Ibrahim said Simplify Networks is a key partner in the MDEC Digital Agtech Ecosystem and has been granted Malaysia Digital status in March, further cementing the support for the company in promoting digital growth in the country. “MDEC and Simplify Networks provide solutions to help farmers, livestock crops and aquaculture for effectiveness, efficiency and higher quality products through the Internet of Things (IoT),” he added
Simplify Networks CEO Tay Yen Pei said the deployment of its products will accelerate the rollout of digital solutions and services. “In the next three to five years, the company will connect not just people but also IoT by 5G and the need to make sure that 5G is deployed as widely available throughout the nation,” he added.
