Malaysia’s Initiatives in Supporting the Smart Economy
As illustrated below, as the government gears up towards digital transforma�on, it has been increasingly developing the digital economy as the engine propelling the growth of smart ci�es. MDEC has played a significant role in empowering technology providers to access markets and improve their visibility. In addi�on, companies, especially
SMEs, are also being supported in the move towards digitalisa�on. These have resulted in a number of ini�a�ves including, infrastructural upgrades, training and upskilling as well as the provision of grants for the seamless adop�on of digital technologies to facilitate the development of the smart economy.
National Fiberisation & Connectivity Plan (NFCP) 2019-2023
DESA Project - Promote Digital Literacy
Formulated to improve broadband quality and coverage, reduce broadband prices and provide Internet access across all spectrums of society. To extend digital infrastructures to remote areas, capitalising on private-public partnerships. RM21.6 billion will be deployed to leverage various technologies ranging from 5G to satellite broadband connec�vity.
To help rural SMEs find markets for their goods through e-commerce and has featured over 2000 rural SME entrepreneurs. To reconnect and revitalise the rural communi�es, to scale up the digital uptake throughout the country, ensuring economic inclusion for rural communi�es along the way.
The 'Malaysia Tech Entrepreneur Programme' Initiative (MTEP)
E-Wallets
To date, there is a total of 53 e-wallets in the country, occupying 19% of Malaysia’s fintech space. Bank Negara Malaysia (BNM) has established a blueprint emphasising their aim to increase the number of per capita e-payment transac�ons from 44 to 200 transac�ons. The government recently announced an alloca�on of RM750 million to promote the adop�on of e-wallets in Malaysia under the PENJANA recovery plan to revitalise the economy
To a�ract tech talent and techno-entrepreneurs from all over the world to set up their startup companies and expand their businesses to the ASEAN region. The MTEP pass is used as a pla�orm to bring foreign talents to Malaysia and grow their businesses.
Digital Hub Malaysia
Industry4WRD
The Industry4WRD: Na�onal Policy on Industry 4.0 was launched on 31 October 2018 to drive digital transforma�on of the manufacturing and related service sectors in Malaysia.
A physical loca�on that offers high-speed broadband facili�es and a holis�c ecosystem that includes start-up development programmes, talent development programmes, opportuni�es and supervision on business financing including facili�es and lifestyle, specifically for start-ups.
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| Malaysia Smart City Outlook 2021 - 2022
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