KUALA LUMPUR, Sept 26 — The government will need to focus on the digital economy and digital infrastructure as well as productivity in the 12th Malaysia Plan to restore the country’s growth following the Covid-19 pandemic and hence realise the aim of becoming a high-income economy as early as 2024.
“Business capabilities to adapt to digitalisation and technological developments will increase the efficiency and drive the business over the long run. Mohd Uzir said the usage of technology would improve production efficiency and enhance productivity in the medium to long term. According to him, the crisis is a suitable turning point for industries to adapt to Industry Revolution 4.0 and enhance the value chain to achieve higher added value.
Almost half of the local SMEs cited employee skill set as a significant barrier to digitalisation, KRI said. “The government needs to implement higher capacity broadband access upgrades because it is an important factor to ensure a fast transition from the traditional economy to a digital one,” he said.
Mohammad Tawfik said government efforts to accelerate the economy’s digital transformation are seen as more important and relevant now amid a global health crisis that has left a deep impact, especially on the economic sectors.
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