International praises pour in for Malaysia’s ICT efforts to lift GDP

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MDEC building

Industry leaders throughout the world are praising Malaysia for its efforts in the ICT (information, communications and technology) sector to play a bigger role in contributing to the country’s GDP.

Frost and Sullivan’s Silicon Valley based global president Aroop Zutshi in his keynote address at the Frost GIL (Globalisation, Innovation, Leadership) event held in Kuala Lumpur recently said that he is very impressed with the progress Malaysia has made in the ICT sector.

He attributes one of Malaysia’s progress to efforts made by the Malaysian Digital Economy Corporation (MDEC), a government agency which he described as “forward looking in innovation and technology”.

“MDEC has even opened a base in Silicon Valley with an aim of connecting the Malaysian ICT ecosystem with Silicon Valley which lives and breathes innovation,” said Aroop.

Meanwhile, Cloudera chief architect Doug Cutting, who is also the founder of several renowned open source projects, praised Malaysia for its visionary approach to the ICT sector.

“Despite the fact that so many people around the world have been talking about Big Data Analytics (BDA), I find that so far Malaysia is unique in its coordinated effort and approach to the BDA ecosystem,” said Cutting at a recent press conference held in Kuala Lumpur.

Cutting was in Malaysia representing enterprise software company Cloudera to officially seal an industry-government collaboration with MDEC to groom a future workforce of data professionals.

When contacted by Business Circle, MDEC chief executive officer Dato’ Yasmin Mahmood said that MDEC has always been a company with a culture of rapid evolution and advancement.

“Recently, there was a name change for MDEC – from Multimedia Development Corporation to Malaysian Digital Economy Corporation – to reflect on our over-arching objective and mandate of facilitating the growth of our nation’s Digital Economy,” said Dato’ Yasmin.

“It is our aim to continue increasing focus on growing the national Digital Economy contribution to Malaysia’s total gross domestic product (GDP),” added Dato’ Yasmin.

“Despite current global economic challenges, MDEC has and will continue to successfully spearheaded significant growth in investments and export sales from MSC Malaysia companies,” she further said.

MDEC continues to grow strongly under Dato’ Yasmin’s leadership

MDEC registered a growth of 56 per cent in Approved Investments and Foreign Direct Investments in 2015. Total investment inflow from MSC Malaysia companies reached RM 19.8 billion last year; and MDEC recorded its highest increase in new investments since its establishment twenty years ago.

“2015 was a significant year for us,” she said. “New investments inflow reached a 20-year record high and for the first time ever, export sales for MSC Malaysia exceeded our expectations. MSC Malaysia’s performance and growth is testament to the progress we are making in executing our Digital Economy strategy as well as boosting investors’ confidence and faith in our local ICT industry.”

Export sales were the highest in 10 years, she said.

Export sales from MSC Malaysia companies contributed RM16.2 billion from RM13.7 billion in 2014, an 18 per cent increase.

“Local MSC Malaysia companies showed promising growth in 2015, as export sales increased by 9 per cent,” added Dato’ Yasmin. “We are proud to share that MSC Malaysia recorded the highest increase in overall export sales since 2010.”

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