Young star­tups hail bud­get

The Star Malaysia - StarBiz - - News -

Malaysian young star­tups hailed the dig­i­tal-fo­cused Bud­get 2018, but said that pro­vi­sion of ad­e­quate dig­i­tal in­fra­struc­ture and well-ex­e­cuted poli­cies re­main the key con­cerns for the coun­try in ful­fill­ing its high-in­come sta­tus as­pi­ra­tion in 2020.

Home­grown car work­shop re­views site, Talk Car Asia Sdn Bhd founder and chief ex­ec­u­tive of­fi­cer An­thony Loh Li Cheng, 33, said the In­dus­try 4.0 ini­tia­tives un­der the bud­get would make the lo­cal in­for­ma­tion and com­mu­ni­ca­tions tech­nol­ogy (ICT) in­dus­try more com­pet­i­tive, con­se­quently, re­sult­ing in a more com­plete dig­i­tal ecosys­tem.

“For in­stance, the cap­i­tal al­lowance for ICT equip­ment will prompt start-ups like me to up­grade our com­put­ers soft­ware sys­tem and in­di­rectly, nur­ture more IT-savvy lo­cal work­force,” he told Ber­nama.

Asked if the mea­sures would help Malaysia be­come a high-in­come na­tion in 2020, Loh said fac­tors such as im­proved In­ter­net in­fra­struc­ture, ef­fec­tive lo­gis­tics and trans­porta­tion ser­vices, along with se­cured on­line pay­ment sys­tem would be a plus for the coun­try to re­alise this tar­get.

“For ex­am­ple, look at China, dig­i­tal­i­sa­tion had helped the coun­try de­velop rapidly in re­cent years, but the process took the coun­try at least a decade to trans­form into to­day's eco­nomic gi­ant,” he said. Loh, how­ever, be­lieved the high-in­come sta­tus goal was achiev­able if Malaysia was fully equipped with the fac­tors men­tioned above.— Ber­nama

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