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Revenue for the services sector in the fourth quarter (Q4) of 2021 grew by 5.3 per cent year-on-year (y-o-y) to RM460 billion with an annual value amounting to RM1.7 trillion, according to the Department of Statistics Malaysia (DoSM). In a statement today, chief statistician Datuk Seri Mohd Uzir Mahidin said the increase in the servicesRead more

The Malaysia Productivity Corporation (MPC) has asked digital economy industry players to take full advantage of the #MyMudah Unit set up at the Malaysia Digital Chamber of Commerce (MDCC) to increase their productivity and business performance. Director-general Datuk Abdul Latif Abu Seman said the national and global economic landscapes have continued to shift in viewRead more

Malaysia is assessing the potential benefits of adopting a digital currency, as part of measures targeted at helping the country’s financial services sector capitalise on the new technologies. “We are going one step further by experimenting with central bank digital currencies (CBDCs) over the next few years,” Bank Negara Malaysia governor Nor Shamsiah Mohd YunusRead more

E-commerce was a driving force in the world economy long before the pandemic struck. Consumers even began avoiding retail stores in favour of mobile delivery apps. However, COVID-19 only expedited the shift to e-commerce that was already happening. In other words, we shouldn’t expect to see a curtailing of online shopping; it will likely onlyRead more

A digital economic plan at the state level will be coordinated through the National Council of Digital Economy and Fourth Industrial Revolution (MED4IR) to ensure the implementation mechanism of initiatives is closer to the targeted recipients, in line with the Keluarga Malaysia concept. Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed saidRead more

The MyDIGITAL initiative, which comes under the National Digital Economy Blueprint, is set to further grow Malaysia’s digital economy into a strategic economic engine of growth, said SAP Malaysia managing director Hong Kok Cheong in a statement. Hong commended the Malaysian government for this “breakthrough yet realistic digital vision which would enhance the economy whileRead more

Global IT company 3i Infotech has announced that they will be building an Edge-as-a-Service (EaaS) digital platform for the ASEAN region in Malaysia. The centralised virtual hub with offerings in areas such as digital trust and security is aimed to help clients leverage cloud at a great scale. The hub forms part of 3i Infotech’sRead more

President Xi Jinping has called for improved regulation and governance of China’s digital economy to guard against its “unhealthy” development as Beijing aims to boost the sector’s contribution to the country’s growth. In an essay in the ruling Communist Party’s publication Qiushi on Saturday, Xi called for focusing on key areas including integrated circuits, displays,Read more

E-commerce and food delivery services have grown by US$7 billion (RM29.28 billion) in gross merchandise value (GMV) in 2021, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed. He said Covid-19 has changed the business landscape and led to rapid digitisation growth, with many entrepreneurs moving onto e-commerce platforms. “It is clearRead more

If banks fail to take advantage of the potential that innovative technology provides, financial ecosystems risk remaining fragmented, heterogeneous and gaps could form in the infrastructure for criminals to infiltrate. However, today, post-financial crisis and amid the Covid-19 pandemic, financial institutions are utilising a variety of applications to formulate a holistic strategy. Which digital accessibilityRead more