KUALA LUMPUR:The strong emphasis on digital connectivity in Budget 2021 is extremely crucial in elevating national competitiveness, as information and communications technology (ICT) continues to transform the value creation process while fostering local innovation.
In a statement, Malaysia Internet Exchange (MyIX) chairman Chiew Kok Hin said in today's digital economy, technology has disrupted the old equilibrium and energised innovation, entrepreneurship and new business models.
“Hence, numerous industries have capitalised on latest technologies to transform their operations and value creation processes -- from product development to production, supply to sales and service.
“Digital connectivity is the ‘bridge’ to elevate Malaysia’s national competitiveness, and it is very encouraging that the government fully appreciates this reality,” said Chiew.
In tabling Budget 2021 last Friday, Finance Minister Tengku Datuk Seri Zafrul Aziz announced several measures for the digital economy, including the allocation of RM7.4 billion for the Malaysian Communications and Multimedia Commission (MCMC) to increase broadband services in 2021 and 2022.
Meanwhile, telcos are expected to provide RM1.5 billion worth of free internet data and the government will also allocate RM500 million to implement the National Digital Network (Jendela) initiative in 2021.
The Jendela initiative is aimed at laying the foundation as well as preparing the country for the transition towards 5G technologies.
Chiew said 5G technologies would open up many possibilities, for example, increasing automation development in industries such as healthcare, manufacturing, banking and agriculture.
He added that local businesses should continue prioritising upskilling and creating a ‘digital first’ workforce.
As for job creation within Budget 2021, the government has announced a RM50 million allocation for retraining programmes for 8,000 airline staff, and a RM100 million grant for non-government organisations involved in job creation, to be matched with a RM100 million grant from government-linked companies.
“Due to rising demand for digital tools and processes, there is an urgent need for people to upskill themselves with knowledge of digital technologies, digital literacy and transferable skills,” said Chiew.
Digital transformation is another priority area for the budget, where RM1 billion would be set aside for digital transformation schemes, coupled with RM150 million in grants for the digitalisation and automatisation of small and medium-sized enterprises (SMEs) and nearly RM1.2 billion for microcredit schemes.
The government also announced RM10 billion for Syarikat Jaminan Pembiayaan Perniagaan Bhd and RM2.5 billion for G1 to G4 contractors for small and medium projects nationwide, with Majlis Amanah Rakyat (MARA) to provide RM50 million in funding scheme for Bumiputera contractors.
“Digital transformation is an ongoing journey for businesses to realise greater productivity and operation efficiencies.
“It is critical to fast-track innovation while enabling businesses to be more agile, more so within today's 'new norm'. MyIX will play its critical role to foster direct connectivity among internet providers so that end-users benefit from improved internet flow,” he added.
MyIX, an initiative under MCMC, was established to keep Malaysian internet traffic local by promoting and allowing direct connectivity among local internet service providers (ISPs), content distribution networks (CDNs) and other industry enterprises.
To-date, it is Malaysia’s only industry-operated non-profit national internet exchange body.
-- BERNAMA
Bernama
Fri Nov 13 2020
"Digital connectivity is the bridge to elevate Malaysia's national competitiveness, and it is very encouraging that the government fully appreciates this reality," said Chiew. - unsplash
The big DC mystery: Where will Trump and his circle hang out?
For four years, the bar at Trump International Hotel in downtown Washington was the place to be seen for Donald Trump's circle of allies.
Thai resort island Phuket grapples with growing garbage crisis
By the end of year, the island could be producing up to 1,400 tonnes of trash a day, overwhelming its sole landfill, deputy mayor says.
Analysis - Biden to hand unfinished agenda to Trump for chaotic Mideast
Joe Biden's record on the world stage is likely to be heavily defined by his handling of the 15-month war in Gaza.
Biden administration will not enforce TikTok ban, says White House official
This leaves the incoming Donald Trump administration to make the decision, according to a White House official.
Hamas set to release first hostages under Gaza ceasefire deal, Israel says
If successful, the ceasefire would halt fighting that has razed much of heavily urbanised Gaza, killed over 46,000 people.
Pakistan's Imran Khan handed 14 years jail term in land graft case
Imran Khan's wife Bushra Bibi was also found guilty and sentenced to seven years in prison.
'It starts now': South Korea's President Yoon defiant as police closed in
Yoon Suk-Yeol remains in detention and is refusing to talk to investigators.
Japanese woman charged with concealing baby's birth
Noda Junko pleaded not guilty to a charge of concealing the birth of a baby girl by dumping the infant in a shopping mall toilet in Cheras.
ASEAN Sec-Gen attends 4th ADGMIN + U.S. meeting
ADGMIN the U.S. is a series of meetings between the ASEAN Digital Ministers' Meeting (ADGMIN) and the United States.
Najib admits relying on Jho Low's assistance despite doubts and discomfort
Najib reveals that on March 6, 2015, Tan Sri Tong Kooi Ong told him Jho Low was guilty of wrongdoing and should be investigated.
Malaysia, UK strengthen trade and investment ties in inaugural ministerial-led Joint Economic and Trade Committee meeting
The UK was Malaysia's 21st-largest trading partner from January to November 2024 and the fourth-largest trading partner in Europe.
448 children from GISB homes returned to their families - Nancy
Datuk Seri Nancy Shukri assures parents wishing to reclaim their children need not worry and encouraged them to approach the ministry.
TikTok's fight against going dark gains support from key US lawmakers
The prospect of a TikTok ban has already triggered some users to seek alternatives.
China's population falls for a third consecutive year
The National Bureau of Statistics says the total number of people in China dropped by 1.39 million to 1.408 billion in 2024.
Hardline Israeli minister Ben-Gvir threatens to quit over Gaza deal
Itamar Ben-Gvir says he would resign from Netanyahu's govt if it ratifies the ceasefire deal in Gaza, which he has strongly opposed.
US says Gaza ceasefire to start as planned despite 'loose end'
We're tying up that loose end as we speak, says Antony Blinken.
Meta's 'Community Notes' model will not apply to paid ads
Community Notes on Meta Platforms will be enabled for organic content, posts that Meta hasn't been paid to promote.
South Korea investigators to file request to extend President Yoon's detention
Investigators must request court approval for a detention warrant to hold Yoon Suk-Yeol in custody for up to 20 more days.
Israel set to approve Gaza ceasefire, hostage deal, Netanyahu's office says
The security cabinet would meet on Friday before a full meeting of the cabinet later to approve the deal, Netanyahu's office says.
Bird feathers, blood found in both engines of crashed jet in South Korea, source says
Two minutes before the pilot declared the Mayday emergency call, air traffic control had urged caution due to "bird activity" in the area.