Skilling agenda vital part for digital economy blueprint's success -- Microsoft director

Dr Jasmine Begum, a director of legal, corporate and government affairs (ASEAN and new markets) at the software giant, said a country with a greater talent pool alongside rapid technological advancements would gain a competitive advantage in wooing foreign direct investment.

"Investments would not be able to come if there is not enough talent," she said, adding that the deployment of 5G technology in the country would be a game-changer for its digital economy.

Begum was speaking at the Youth Economic Forum (YEF) 2021 during a virtual session titled "The Tech Agenda: Creating a Digital Main Street" on Friday evening.

The Malaysia Digital Economy Blueprint was launched by Prime Minister Tan Sri Muhyiddin Yassin on Feb 19. Malaysia will be one of the first countries in Southeast Asia to adopt 5G Internet and cloud services.

Under the 10-year blueprint, the digital economy is expected to contribute 22.6 per cent to the country's Gross Domestic Product by 2025 and generate over RM70 billion in domestic and foreign investments.

The government targets to have about 80 per cent of its end-to-end online services be integrated by 2025 and 80 per cent usage of cloud storage across government agencies by 2022.

Begum applauded the government's initiative to embrace the cloud ecosystem in the country as the technology plays an enabler role for innovation that could eventually transform and change the way businesses and the public operate in the future.

"The blueprint clearly is very progressive," Begum said.

Another speaker, Malaysia Digital Economy Corporation (MDEC) chief executive officer Surina Shukri, said digital transformation is no longer an option as its adoption has become a default following COVID-19.

In her view, the roll-out of 5G, which will likely take place end of this year, will transform the Malaysian economy and industries would be the biggest beneficiary of this advancement.

"I think the availability of commercial 5G will help spur some new innovations within the industries, such as the autonomous vehicle industry, and (enhance the) development in virtual reality and gaming industry," she added.