Local companies should take advantage of 5G network opportunities — Teraju

KUALA LUMPUR: The Bumiputera Agenda Steering Unit (Teraju) has urged the local telecommunication companies to take advantage of the opportunities available throughout the chain of implementation of the fifth generation (5G) network.

Chief executive officer Datuk Md Silmi Abd Rahman said there are vast opportunities available in the digital ecosystem, including content and application development, wealth creation through the digital economy, production hubs for 5G components such as fibre cables and software, as well as research and development efforts with institutions local education.

“Bumiputeras who have the expertise and merit should be given opportunities so that they would not be left behind in driving the country’s advancement to the economic gateway of the future,” he said in a statement yesterday.

Meanwhile, Teraju has taken steps to facilitate Bumiputera companies’ participation in the implementation of the national 5G network, encouraging them to go beyond borders and accelerate digital empowerment among Bumiputeras to boost competitiveness.

Md Silmi said the digital economy sector has the potential to generate gross operating surplus worth RM338.78 billion with 427,138 direct and indirect job opportunities by 2030, as outlined in the Bumiputera Development Action 2030 (TBP2030).

The national 5G project is a mega government project worth close to RM20 billion, and its value could potentially increase to up to RM50 billion in the next 10 years.

“In order to achieve 60 per cent Bumiputera involvement in this 5G project, Teraju has suggested the establishment of the Bumiputera Company Development Unit and the Bumiputera Agenda Committee and Bumiputera unit in the Project Management Consultant (PMC) in Digital Nasional Bhd,” he said.

At the same time, Teraju will continue to ensure the strategic involvement of Bumiputeras in the 5G network implementation.

A wider exploration space in this new economic chain system also needs to be created to increase the capacity of Bumiputera to be able to be involved in technology transfer, as well as be able to compete in a global industry, he added.