[CLSTR]
API
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 2 sources · 24 days · First seen · Last updated

Malaysia digital economy development

Overview

The Malaysia Digital Economy Corporation (MDEC) has initiated a strategic push to transition the nation from a participant to a global leader in digital technology. This strategy, supported by the Thirteenth Malaysia Plan and the Malaysia Digital Action Plan 2030, aims to establish the country as a regional hub and a sustainable AI nation, with a goal for the digital economy to contribute 30% of the national GDP by 2030.

Projections indicate significant growth within this sector, with the digital economy expected to reach US$48 billion by 2026. E-commerce is a primary driver, with transaction values projected to hit US$25 billion. Growth is further supported by advancements in fintech, including a rise in electronic payment transactions and the exploration of ringgit-denominated stablecoins by Bank Negara Malaysia to facilitate cross-border payments.

Entities

Google · Bank Negara Malaysia · Temasek · Bain & Company · Fadzli Abdul Wahit

Timeline

  1. [BUSINESS] 2 sources
    Malaysia digital economy projected to reach US$48 billion by 2026

    Malaysia's digital economy is forecasted to hit US$48 billion by 2026, driven by rapid e-commerce growth and a surge in electronic payment transactions.

  2. [BUSINESS] 2 sources
    Malaysia Digital Economy Corporation targets global tech leadership

    MDEC aims to transition Malaysia from a digital participant to a global leader by focusing on AI, commercializing homegrown innovation, and targeting a 30% digital economy contribution to GDP by 2030.

Sources

majalahlabur.com · tranglo.com