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Big Data and Key Component of Digital Economy in the 11th Malaysia Plan
December 11, 2015 Blog big data

In an effort to build a vibrant digital economy for Malaysia, the government is rapidly putting in the foundation to capitalize on the myriad of opportunities offered by disruptive technologies such as Big Data Analytics (BDA) and Internet of Things (IoT), both of which have been incorporated into the 11th Malaysia Plan.

Prime Minister Datuk Seri Mohd Najib Abdul Razak, in his opening remarks at the 27th MSC Malaysia Implementation Council Meeting recently, said it is critical to have a robust enabling ecosystem consisting of world-class information and communications technology (ICT) talent to meet growing technologies demand and digital infrastructure for seamless connectivity,” he said.

One such initiative was when in January this year, the Multimedia Development Corp (MDeC) accelerated the big data analytics (BDA) adoption and innovation among Malaysian companies by establishing a network of BDA Innovation Centres of Excellence.

Its chief executive officer Datuk Yasmin Mahmood had then said the initiative would focus on bringing private and public partnerships as a conduit to build critical mass in BDA adoption and innovation.

“It is also a crucial step in realising MDeC’s vision to turn Malaysia into a BDA hub in Asean,” she added.

Also in January, three memorandum of understandings (MoU) were signed between MDeC, leading industry players and key government partners for the setting up of three centres of excellence (CoEs).

Under the MoUs, Fusionex International and Teradata Corp Malaysia Sdn Bhd will build the industry-driven CoEs, while the Malaysian Administrative Modernisation and Management Planning Unit (MAMPU) and MIMOS will establish a BDA Digital Government lab to be part of the wider national network.

Yasmin said the MoU would cement efforts in structuring a national network of CoEs and help mobilize the country’s top BDA experts to develop high-impact projects and proof-of-concepts in driving adoption and innovation.

Meanwhile, at the MSC Meeting last week, Najib noted that the country’s digital economy is heading in the right direction, achieving a 17% contribution to the national gross domestic product in 2014, which is the target initially set for 2020.

He said MSC Malaysia, which is fundamental to the national digital economy, had contributed over RM295 billion in revenue to the Malaysian economy, RM283 billion worth of investments and more than 147,000 jobs since its inception in 1996.

MSC Malaysia is the national ICT initiative designed to attract world-class technology companies while grooming the local ICT industry.

“MSC Malaysia also continues to attract investments from world-class and cutting-edge companies in a wide range of industries,” he said.

Najib added he was pleased to see the progress MDeC had made, particularly in strengthening the Digital Malaysia national agenda.

“I am confident that MDeC will continue to play an important role as a catalyst for ICT and the driver of the digital economy,” he added.

“Today, new opportunities are regularly derived from the innovation and adoption of digital technologies.

“Indeed, the digital world continues to pervade every aspect of our lives from cradle to grave, leading to a new environment of hyperconnectivity,” he said.