Technology Opportunities in Malaysia
In 2017, the Prime Minister of Malaysia has officially announced for the country to embrace a digital year as part of the country’s aspiration to become a high-income nation by 2020. The Government’s effort in driving this initiative forward is evident when ICT spending in 2017 is recorded at £10.2billion and projected to reach £11.6billion by 2020. The catalysts behind this effort include migration to Cloud Technology, Enterprise Mobility and Security.
The Malaysian government has a number of long-term initiatives with favourable implications for IT products and services, including further investment and encouraging international companies to consider Malaysia as a test-bed for the global ICT industry. Solid foundation in Information and Communications Technology (ICT), Science, Technology and Innovation (STI), various flagship projects, as well as over 1500 active MSC Malaysia status companies all well under the Government Transformation Programme (GTP) and the Economic Transformation Programme (ETP) that will continue to be the backbone of the five-year Malaysia plan and the National Key Economic Areas (NKEAs).
Sub-Sectors Opportunities in Malaysia
With a resilient economic backdrop, Malaysia continues to enjoy significant growth and offer ample opportunities in the technology sector for Big Data Analytics, IoT, Cyber Security, Cloud and Data Centres, e-Commerce, Fintech and Smart Cities:
- Big Data Analytics – Infrastructure and Infostructure initiative which include Talent Development and Open Data
- Internet of Things – Focusing on Start-ups, applications development and funding
- Cyber Security – Focusing on industry development and awareness programmes
- Cloud & Data Centres – Domestic data centre industry development, talent development, information enablement programmes and research benchmarking
- E-Commerce – Providing supply and demand programmes, and nurturing market access programmes
- Fintech – Fintech for Islamic Banking and Finance, and Fintech for developing the economy
- Smart Cities – Smart grid projects to using Big Data Analytics, integrated transportation systems, smart traffic and waste management
Key Contact for Malaysia: