Digital economy expected to contribute over 25% to Malaysia’s GDP by 2025
The Malaysian government expects the digital economy sector will contribute 25.5% to its gross domestic product (GDP) by 2025, Malaysia’s Communications and Digital Minister Fahmi Fadzil said on August 10.
Kuala Lumpur (VNA) – The Malaysian governmentexpects the digital economy sector will contribute 25.5% to its gross domestic product (GDP) by 2025, Malaysia’s Communications and Digital Minister Fahmi Fadzil said on August 10.
The current rate is 23%.
According to the minister, the digital economy plays animportant role in the MADANI Economy framework and the future direction of thecountry's economy to create a wider market for Malaysians so they are not tiedto just the local market.
He said apart from providing a wider market, the sector allowsMalaysians to work from any location provided they have access to a stableinternet connection.
He said the main focus of the ministry was to provide thecomplete infrastructure needed to narrow the digital divide and provide stableand cheap internet packages, in addition to taking steps to improve digitalliteracy skills.
With the MADANI Economy framework launched by Prime MinisterDatuk Seri Anwar Ibrahim on July 27, the marketability of local products underthe initiatives planned by the government for the digital economy sector canreach at least 652 million people in Southeast Asia.
As of July 31, a total of 5,515 of the 7,509 planned 5G siteshad been completed to reach 66.8% coverage of populated areas (CoPA), while 4Gcoverage had reached 96.2% of CoPA nationwide.
Fahmi said there are four satellite broadband providersincluding Starlink, for areas that did not have internet access.
The idea of the MADANI Economy is based on two impor♔tantfactors: empowering people and focusing on innova🧔tion and inclusivity./.
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Illustrative photo (Photo: Xinhua/VNA) 
