Malaysia Economic Blueprint and Impact


Malaysia Economic Blueprint and Impact
Malaysia Economic Blueprint and Impact



Blueprint


The digital economy is predicted to generate 22.6 percent of the nation’s GDP by 2025 under this approach. Simultaneously, the programme intends to build 500,000 digital economy employment.

Malaysian Prime Minister Muhyiddin Hussein officially launched the MyDIGITAL programme on Friday morning (February 19), as part of the government’s ambitions to “turn Malaysia into a digital, high-income country and regional digital economy leader.”


Recalling the event, Prime Minister Muhyiddin said: “The MyDIGITAL program aims to empower all Malaysian people, from Perlis to Sabah, to improve their lives in all aspects. Among them are ideas and programs to improve digital literacy, create more lucrative jobs, make banking and business finances easier and more organized, provide access to education for our children and bring medical facilities to remote cities.


"It's also a digital transformation management system that may help businesses compete worldwide by improving their operations' efficiency and effectiveness."

The strategy will follow national development policies such as the Twelfth Malaysia Plan and the Shared Prosperity Vision 2030 [Wawasan Kemakmuran Bersama (WKB) 2030], as well as the Malaysia Digital Economy Plan .

It sets out a combination of plans and objectives addressed in three phases of action by 2030:


Phase 1 runs from 2021 to 2022, and will strengthen the foundation for digital adoption.

Phase 2, which covers 2023 to 2025, will promote integrated digital transformation.

Phase 3, Phase 3, which runs from 2026 to 2030, would establish Malaysia as a regional leader in digital and cyber security content.

Other noteworthy features encompass:

The digital economy is predicted to account for 22.6 percent of the country's GDP by 2025. Simultaneously, the programme intends to create 500,000 digital economy employment. And in the meantime, the government will support e-commerce adoption by 875,000 small, medium, and micro businesses.5In addition, these programs under the auspices of MyDIGITAL could also encourage startups or startup companies in the next five thousand.

MyDIGITAL will also be the first to attract new investment in the RM70bn digital sector domestically and internationally.

Next, by 2030, the government has targeted the productivity of the economy to increase by 30%, compared to today.

In the public sector, all sectors will provide free transaction services as the primary choice by 2022.




In his address, Prime Minister Muhyiddin summarized the key points to note in all three of the sentences, outlined below.


To accelerate innovation and create a more efficient digital ecosystem, PM noted that the four key types of digital infrastructure under MyDIGITAL need to be built first. This construction effort will be made through the "Government and the private sector" in which the private sector shares capital and skills funding:


Initially, the National Digital Network (JENDELA) initiative will invest RM21 billion over five years to enhance current connections. This fixed line fibre network will cover nearly 100% of the population in phases, starting with 7.5 million premises by the end of 2022 and increasing to 9 million by the end of 2025. The nation will be better equipped to migrate to a 5G network in the near future if the fibre optic network is expanded.

Second, a total of RM1.65bn will be invested by several telecommunications companies to strengthen international network connectivity by 2023. This will open the door to faster and more efficient data transfer, thereby reducing internet costs for Malaysian consumers.


Thirdly, a total of RM15bn will be invested over a decade to deploy 5G nationwide. This will create an estimated 105,000 jobs. This effort will be made through a special organization or "special purpose vehicle" under the Malaysian government. This business will be given the right spectrum to own, operate and manage 5G infrastructure.


Prime Minister Muhyiddin added: “By the end of this year, 5G technology will begin to be enjoyed in stages. With this in mind, Malaysia will be one of the first countries in the region to build a 5G ecosystem using the Internet and cloud services in real time or in real time, enabling information to be shared faster.


“Just think, this 5G technology is a game changer, because there will be a lot of smart services that have a direct impact on human well-being. This is because 5G not only promises faster internet access, but more importantly, it enables a variety of important applications to be in the hands of users, including chronic patient health monitoring applications, smart emergency assistance, and special requests for isolated residents . ”


Fourthly, between RM12 billion and RM15 billion would be invested in Cloud Service Provider (CSP) enterprises over the next five years. Microsoft, Google, Amazon, and Telekom Malaysia have all received conditional approval from the government to create and maintain hyperscale data centers and cloud services. These data centers will centralize data and hybrid cloud services, increasing data storage while lowering operational costs and improving analytical efficiency.


In addition, the government has also proposed the appointment of three ICT companies such as Manage Service Providers (MSPs) to work with these CSPs to manage CSP services in public sector organizations, in line with the desire to strengthen the capacity of local companies. Enfrasys Consulting, Prestariang Systems, and Cloud Connect are the companies involved.


As a step towards enabling public computer services, the government, through its Cloud First strategy, has identified a shift of 80% of public data to this hybrid cloud approach by the end of 2022. In addition to making data collection and management more efficient and efficient, this strategy could reduce government spending on information technology management over time. Big Data, AI, IoT, and other technologies will be able to be leveraged to improve government services thanks to cloud services.


Further to that, Prime Minister Muhyiddin stated that establishing digital infrastructure will be the foundation for creating a sustainable environment. "The key to long-term economic growth" is this natural system.


In line with this, government will continue to assist in strengthening this new ecosystem in many ways, including:


· By promoting a regulatory environment that supports the use of digital while protecting citizens' privacy;

· By using public data sources for joint use by public and private organizations; and

· By facilitating the emergence of the labor market in uninterrupted industry and digital technology.


“As a result, we’ll make sure that digital enterprises working with the government do everything they can to help Malaysians develop their digital abilities. These businesses will collaborate with local colleges to establish a Faculty of Artificial Intelligence and other initiatives, as well as with the government to conduct general human resource development programmes.


Impact


Digital technology has transformed modern life with gadgets such as laptops, tablets, and smartphones that are now widely owned. As well as bringing benefits, digital technology has bought a lot of decline.

Digital technology has transformed modern life with gadgets such as laptops, tablets, and smartphones that are now widely owned. As well as bringing benefits, digital technology has bought a lot of decline.


In past few decades, digital technology has altered practically every area of human life. Office job, shopping, music, movies, television, photography, tourism, transportation, and remote communication are just a few examples of how things have changed. In fact, it is fair to say that it is becoming increasingly rare to find any electronic device or device that does not involve digital technology in some way.


Because of digital technology, devices are frequently smaller, lighter, faster, and more adaptable than ever before. It also signifies that more data may be stored locally or remotely and transferred between locations practically instantly. Even the word “knowledge” has expanded to include images, sound, video, and other media, rather than just letters and numbers. Information can be easily used, too; photos, music and movies can be edited, for example.



However, there is a decline in digital technology, too. Seventeen numbers are listed below:


1.Data Security

Digital technology means that large amounts of data can be collected and stored. This could be confidential information about individuals or organizations. It can be quite hard to maintain this information secure. A single incident can result in a large amount of sensitive data falling into the hands of criminals, terrorists, commercial rivals, foreign opponents, or other insider threats.


2.Crime and Terrorism

The internet is a fertile ground for the evil forces operating, due to its international nature, great size, and anonymity that users can enjoy. Examples of this include: terrorists who use social media to advertise and encourage others; drug dealers use the black web to trade; child molesters using chat rooms and other sites to prepare potential victims, exchange of photos, videos and other information; and dictatorships to try to disrupt or distort elections in democratic countries.



3.Complexity

We no longer understand the functionality of the devices and devices we communicate with on a daily basis. Repairing a modern car now means working with a computer; it is no longer just a machine. Using the phone may involve coping with all kinds of difficult settings. Minor glitches in laptop performance can cost both time and money.


4. Concerns

It is very difficult to have personal privacy in the digital world and that is at the risk of your personal data being stolen or sold. For example, everyone has the ability to take photos and videos on their mobile phones, and send them online. Employers can look at people online and perhaps find unwanted pictures, or see them expressing controversial ideas on social media or blogs. Digital cameras monitor and record our movements in public. A little misbehavior can now confuse a person for the rest of his or her life when posted online. Managing your personal information is very difficult and sometimes impossible.


5. Disconnection

There is a growing tendency for people to connect and communicate with digital devices rather than real-life communication. This can easily lead to a sense of disconnection and separation. People have evolved over thousands of years into real communication, so taking that into account affects them in all the negative ways that we are just beginning to understand. Studies have suggested that the lack of contact with real health causes stress and other forms of mental illness in many people.


There are many psychological studies that suggest that the digital world poses an increased risk of mental illness. Examples include reliance on social media platforms, cyberbullying, and job pressures with data overload.

There are many psychological studies that suggest that the digital world poses an increased risk of mental illness. Examples include reliance on social media platforms, cyberbullying, and job pressures with data overload.


6. Too Much Work

Many modern-day employees spend their days trying to keep up with the hundreds of emails they send each week, all of which need to be read and some require responses or action. Letters from colleagues in the evenings or on weekends could mean that people never run away completely from work. Editing a large amount of digital data obtained from other tasks, such as meeting minutes, training videos, photos, reports, and instructions, can also be a big headache.


7. Media Management

Digital media such as photos, audio, and video is easy to edit, which makes media corruption increasing. It is not always easy to tell what is true and what is not. Images can be edited using editing tools such as Photoshop. Digital audio and video can be taught. Problems will only get worse as technology improves.


8. Lack of confidence in the workplace

It used to be that you had to be physically present at work to get the job done, but now most of the work is done remotely online. That means a Third World employee in a low-wage economy can pressure you and take your job. Increasingly, people are not needed at all for most jobs, as computers are slowly changing. Driving and delivery services, for example, will soon disappear when cars become automatic.



9. Cheating and copying

Digital media is very easy to copy and reproduce. Copyright laws are increasingly enforceable, as the music and movie industries have incurred their costs. Schoolchildren can copy and paste homework projects without learning anything. The tradition of "sharing" on social media means that often the original maker of a piece of news is forgotten, as the piece is changed and sought after by others.


10. Anonymous With The Deceiver

Digital Technology provides a wide range of users to hide their identity. Studies show that people are more likely to misbehave if they do not think about the consequences. Harassment, harassment, harassment, threats, and abusive behavior have all increased dramatically with the proliferation of the Internet. People think of non-existent personas for the purpose of cheating and cheating. Abusers use false personas to gain access and become friends with children.


11. Overuse of gadgets

Reliance on mobile phones, computers, and other digital gadgets has become commonplace. Most people have all their contact information, photos, texts, and other personal information on their phones. If they lose it, or the gadget breaks or loses power, then they are in trouble. Basic life skills, such as finding a way around city streets, have been replaced to take directions from the GPS system.

Addiction to computer games can cause many problems for the users who are trapped in it. Outcomes include adverse social, financial, academic achievement, sleep patterns, and emotional and health problems.


12. Addiction

Social media, computer games, messaging, and dating sites can all be addictive. Games require you to play them so you can buy the next type. Websites require you to participate in order to generate advertising revenue. Users end up spending a lot of time and money bleeding down low returns.


13. Second Life

Most people do not see real events. Music concerts or live shows are recorded on mobile videos, events are filmed, and audio is recorded. Media is uploaded to social networking sites. Life becomes more accessible through the use of digital media prism rather than personal experience.



14. Organization and Storage

Digital media can be very difficult to edit. Photos and music, for example, can be found on many devices, such as cell phones, tablets, laptops, and portable hard drives. Individual items can be hard to find but easy to remove or discard accidentally, and devices stored may be lost, stolen, or malfunctioning. Digital media can be difficult to maintain and maintain for a long time. File formats change over time. In some cases traditional media can last longer than its digital equity.



15. The Human War

Weapons may be supplied everywhere in the globe thanks to digital technology, which eliminates the need for human military presence. The Drones transform battle into a video game. Intercontinental arrows trace the paths and monuments of distant nations. Satellites use photos and videos taken from space to keep an eye on enemy forces.


16. Longevity

Digital gadgets are usually short-lived and become obsolete very quickly. As technology advances faster, devices and equipment quickly become obsolete because they now appear to be moving too slowly, or not compatible with other devices, or simply being replaced by newer, better models. This creates a lot of waste and inefficiency, as older digital devices are discarded when they no longer work. It can be very expensive for users where you have to upgrade every few years to a new device.

Many health-related tasks can now be carried out without ever leaving the house. What’s worse is that society is increasingly encouraging people to develop personalities.

Many health-related tasks can now be carried out without ever leaving the house. Worse, society is increasingly developing in its ability to create a personality.


17. Social Separation

The organization continues to become more and more impersonal as computerized machines take the place of human beings. People are shopping online, forming their own online banks, paying bills online, and becoming more and more active online. Transport will also be operational, which will result in taxis and trucks becoming less drivers. Loneliness and a lack of physical contact are increasingly common.