ICT sector displays spendid performance in 2016

KUALA LUMPUR: The information and communications technology (ICT) sector displayed a splendid performance in 2016 with advancements in digital inclusivity, e-commerce and Big Data Analytics (BDA).

Of significance, the year also saw the appointment of Ali Baba Group founder, Jack Ma, as the country’s digital economy adviser to the government by Prime Minister Datuk Seri Najib Razak in November 2016.

Ma, a self-made billionaire and a great innovator, will advise and assist in exploring, developing and charting the future direction of the country’s digital economy.

What more, 2017 has been announced as ‘The Year of Internet Economy’ with Najib underlining five strategic catalysts - physical microcosms, risk capital funding, connectivity, talent and regulatory framework - to enhance the Internet economy.

Malaysia Digital Economy Corp Sdn Bhd (MDEC) chief operating officer, Datuk Ng Wan Peng, said the e-commerce segment was expected to contribute 5.8 per cent to the country’s gross domestic product (GDP) this year, 0.6 per cent short of the target set for 2020.

“This indicates the success of the various initiatives implemented to help grow the digital economy.

“Through the digital inclusivity efforts, which include the e-Rezeki and e-Usahawan programmes, the digital economy contributed 17.8 per cent to the nation’s GDP in 2015 and have benefited over 100,000 Malaysians,” she told Bernama.

“The target set for 2020 is 18.2 per cent contribution to the GDP,” she said.

Ng said that as of August 2016, Malaysia became home to 22 multinational BDA companies from six countries, a testament to the nation’s steady progress as a leading BDA solutions hub in South-East Asia.

Following the increased awareness and adoption of BDA among the local industry players this year, the 2020 target demand for data scientists and data professionals has been revised to 2,000 and 16,000 respectively from 1,500 and 15,000 respectively.

In fact, the data centre sector recorded a 10 per cent growth as more providers moved away from the traditional business solutions to a more holistic and digitally-led solutions.

As the lead agency responsible for driving Malaysia’s digital economy, Ng said, MSC Malaysia (formerly the Multimedia Super Corridor) recorded high investment growth from MSC-status companies since its inception in 1996. — Bernama