Oracle: Budget 2021 to focus on investment in infrastructure connectivity

Managing director Fitri Abdullah said the budget announcement on Nov 6 should also focus on improving the well-being of the people including bridging the digital divide and upskilling, steering the economic recovery of businesses via digital initiatives and adoption, sustainable living by incorporating both social and green initiatives, and enhancing the overall public delivery system.

“What is clear is that there will be a strong focus on digitalisation and adoption of a new Fourth Industrial Revolution (IR4.0) technologies in the budget.

“We foresee more financial measures and incentives given to businesses, especially for small and medium enterprises (SMEs), to manage their capital and resources, including digital technology investments and digital upskilling to increase their competitiveness and agility,” he said in a Budget 2021 commentary yesterday.

Fitri added that a recent survey conducted by Oracle revealed that 49 per cent of network and information technology executives are exploring 5G-enabled smart city services.

“This is not surprising as the technology will open up many possibilities. For example, it may enable a web of sensors, which monitor and regulate energy use and air pollution levels for sustainability development.

“It also brings great impact on cybersecurity as accurate, real-time fraud detection will be the norm,” he said, adding that 5G technology will also increase automation development in agriculture, healthcare, manufacturing, banking and communications, among others.

JENDELA was launched this year and it lays the foundation as well as prepare the country for the transition towards 5G technology.

Fitri said budgetary measures are expected to include incentives for smart automation, back-office digitalisation, and training and reskilling in supporting the companies' digital transformation journey.

“Such digitalisation efforts also enable businesses to be more agile as they prepare to shift their operational strategies to suit current situations.

“In this regard, businesses are moving past the cloud adoption decision to how they will adopt cloud and what areas can cloud computing support.”

The budget should also address various measures to strengthen job creation and enhance employment opportunities.

Under the Short-Term Economic Recovery Plan (PENJANA) initiative, businesses are eligible to apply for various digitalisation grants to start their digital transformation.

Citing the 2020 COVID-19 Labour Pulse Survey, commissioned by Randstad Malaysia, he said more than 91 per cent of employees surveyed in Malaysia intend to upskill or reskill in the next 12 months.

Apart from building talent, he said companies should also look into investing in tools that will help their employees work efficiently.

“The outlook may be gloomy now but with the right support and infrastructure in place, Oracle believes Malaysia is on the right path towards economic recovery,” he added.