Fahmi: Digital economy sector vital to success of Madani Economy framework - MIDA | Malaysian Investment Development Authority
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Fahmi: Digital economy sector vital to success of Madani Economy framework

Fahmi: Digital economy sector vital to success of Madani Economy framework

31 Jul 2023

The digital economy sector is vital in making the Madani Economy framework a success, as it is one of the main pillars of economic growth in the country, said Minister of Communications and Digital Fahmi Fadzil.

Speaking at the Ministry of Communications and Digital (KKD)’s monthly assembly here on Monday (July 31), Fahmi said the investment in the country’s digital economy showed growth of almost RM24 billion between January to June this year, compared with RM7.5 billion for the same period last year.

“I was made to understand that there will be announcements on more investments soon.

“The digital economy sector will be one of the most important sectors. That’s why the prime minister talks about digitalisation, connectivity, and addressing some fundamental issues for the people,” he said. 

The Madani Economy, the latest economic framework announced by Prime Minister Datuk Seri Anwar Ibrahim on July 27, is aimed at boosting the Malaysian economy and will have revenue spillover to the people, to enable them to enjoy a better quality of life.

Anwar, who is also finance minister, said the announcement on the “Madani Economy: Empowering the People” initiative is a comprehensive plan for Malaysia to address various challenges and issues related to its competitiveness and investment attractions, as well as outlining actions to address current issues that affect people’s lives.

Elaborating, Fahmi said that communication infrastructure, cybersecurity and the digital economy are crucial and need to be enhanced to ensure the success of the digital economy sector.

“Malaysia, as a forward-thinking country, understands that the main pillars of economic growth are the digital economy and renewable energy,” he said, adding that the Madani Economy framework is crucial for bringing about positive changes within the country.

Source: Bernama