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Digital economy poised to contribute 25.5% of GDP by 2025, says Fahmi

Digital economy poised to contribute 25.5% of GDP by 2025, says Fahmi

17 Apr 2023

Malaysia’s digital economy is on course to hit its goal of contributing more than 25.5% of the nation’s gross domestic product (GDP) by 2025, says Fahmi Fadzil.

The Communications and Digital Minister said this was thanks to recent spikes in digital activities and major investments.

He pointed to the announcement by Prime Minister Datuk Seri Anwar Ibrahim on Sunday (April 16) that US-based digital infrastructure firm DigitalBridge Group planned to invest over RM4bil here by the end of the year.

“Along with the constant positive news on the growth of our data centre industry, perhaps we will be able to surpass that target of 25.5% by 2025,” he said in his speech during the announcement of Malaysia Digital Catalytic Programmes (Pemangkin) on Monday (April 17).

To facilitate growth in nine other digital sectors, Fahmi also announced that additional Pemangkin programmes and three grants would be launched soon under the Malaysia Digital (MD) initiative.

“It is not enough for Malaysia to be just a data centre hub. The key now is how we utilise these data centres to grow the rest of the digital industry,” he said.

Also present during the announcement was MDEC non-executive chairman Syed Ibrahim Syed Noh and MDEC chief executive officer Mahadhir Aziz.

Source: The Star