The National Tech Association of Malaysia (PIKOM) believes that the focus on digitalisation and automation would enable Malaysia have a good standing in the post COVID-19 recovery phase.
Hence, the association lauded the government's focus on digital economy under the National Economic Recovery Plan (PENJANA) unveiled today.
PIKOM chairman Danny Lee said the allocation of RM700 million to drive digitalisation of businesses and innovation and smart automation funds of RM100 million will be a shot in the arm needed to provide the leap for Malaysia into the digital economy.
"In addition, to encourage micro enterprises and small and medium enterprises (SMEs) use digital services, the government together with the private sector will finance this effort.
"The importance of the digital economy is very much central to the economic recovery efforts. This will greatly benefit the tech industry," he said in a statement.
Lee said the sector would further be fuelled by the RM140 million matching grants and the RM70 million Shop Malaysia Online allocation for e-commerce.
Micro enterprises and SMEs in Malaysia will be well positioned for the digital revolution, he added.
He said the venture investment and risk capital needs of start-ups and growth-stage companies also received the attention of the government with the setting up of the Dana PENJANA Nasional.
"In addition, PIKOM, through its Future Digital think tank, has been calling for the setting up of a technology sandbox. The announcement is indeed timely.
"The pivot towards a digital strategy is also evident with the delivery of government service, a Buy Malaysia campaign anchored on digital platform and the matching allocation of RM50 for e-wallets.
"This will provide a catalytic effect on the digital economy." he added.
Lee said the economic recovery could only be sustained if Malaysians continue to be employed and the extension of the Wage Support Scheme and Hiring and Training Assistance accorded to businesses were greatly appreciated.
This is complemented by the reskilling and upskilling programmes, including the Place-and-Train funding.
"The technology sector is prepared to work closely with the government to place unemployed graduates and retrenched workers into a training programme that will equip them for employment in our sector," Lee noted.
-- BERNAMA
Bernama
Sat Jun 06 2020
Micro enterprises and SMEs in Malaysia will be well positioned for the digital revolution. File picture
Astro AWANI's revamped English news website, AWANI International, launches on Oct 21
Astro AWANI's revamped English platform delivers in-depth global news and expert analysis to keep you informed on key developments.
Israeli strikes kill 33 people in Jabalia refugee camp in Gaza, medics say
Residents of Jabalia said Israeli tanks had reached the heart of the camp after pushing through suburbs and residential districts.
Liam Payne's ex-partner calls for media restraint after 'painful' death
Cheryl Tweedy used her statement to urge the media to remember they had a seven-year-old son, Bear, who could read the reports.
Analysts: Indonesia's strong MoF leadership team to boost investor confidence
Sri Mulyani Indrawati as head of Indonesia's Ministry of Finance is expected to instil confidence among investors.
Biden offers both a carrot and a stick to Israel as his term nears an end
Israel has frequently resisted US advice and has caused political difficulties for the Biden administration.
Putin says BRICS will generate most of global economic growth
Russian President Vladimir Putin will host a summit of the group in the city of Kazan on Oct. 22-24.
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.