Digital economy will contribute 20% of GDP

The digital economy had been identified as a main catalyst which will contribute to 20% of the national Gross Domestic Product (GDP) by year 2020

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Prime Minister, Datuk Seri Najib Tun Razak arrived at the parliament for the House of Representatives sitting today.PIX: HAZROL ZAINAL, 09 NOVEMBER 2017.

By Muhamad Izwan Mohd Zubit

KUALA LUMPUR – The digital economy had been identified as a main catalyst which will contribute to 20% of the national Gross Domestic Product (GDP) by year 2020, said Datuk Seri Najib Razak.

The Prime Minister said, taking into the consideration on the importance of digital economy to the country, the government have taken significant measures in identifying several initiatives to assist the people in using the platform for their businesses.

“Under the E-Usahawan and E Rezeki initiatives, the digital economy has been identified as an engine which can strengthen the national economy.

“According to the Department of Statistics Malaysia, the digital economy had contributed 18.3% of the GDP in 2016 and it is expected to be increased to 20% by year 2020,” Najib told the House of Representatives (Dewan Rakyat) today.

The two programmes introduced by Malaysia Digital Economy Corporation (MDEC) was meant to educate and provide trainings for the youth and micro entrepreneurs in using the social media and digital platform as a medium in increasing sales and generating income.

Up to September 2017, a total of 92,926 young and rural entrepreneurs have joined the E-Usahawan programme.

From that amount, 27,190 or 29% of the participants have reported an increment of sales of over RM112 million.

59% of the participants were women.

Meanwhile, as of September 2017, 101,693 individuals were trained through the E-Rezeki centres or representatives nationwide. From that amount, 57,672 individuals or 57% have successfully generated accumulated income of over RM81 million.

The E-Rezeki programme is based on the crowdsourcing concept and focussed on the service industry.

The programme benefits the lower income families by opening new opportunities for them to generate income digitally.

Besides that, the Digital Free Trade Zone (DFTZ) is another government’s initiatives to excite the digital economy where it helps local entrepreneurs to penetrate the global market, said Najib.

“In the effort to encourage the SME entrepreneurs to market their products globally, the government had introduced the Digital Free Trade Zone (DFTZ) initiatives. It can help them penetrate the global market through the E-Commerce platform.

“The initiative can create 60,000 career opportunities by 2025,” said Najib. – MalaysiaGazette

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