Launching MyDigital and the Malaysia Digital Economy Blueprint, Prime Minister Muhyiddin Yassin said he expects the digital economy to make up 22.6% of Malaysia’s GDP by 2025.
CME chief and economist Carmelo Ferlito said these aims cannot be met through policy design alone and would rely on entrepreneurial acumen instead. “When one of them grasps these opportunities and enjoys a competitive advantage, the transformation process is set in motion and it has to struggle against the old way to do things.”During the launch of MyDigital and the Malaysia Digital Economy Blueprint, Prime Minister Muhyiddin Yassin said he expects the digital economy to make up 22.6% of Malaysia’s GDP by 2025, adding the government planned to create over half a million jobs in the sector.
“If innovations happen simply because they are policy-induced but they are not consistent with market preferences, we will obtain a technological bubble which will burst once the policy support is withdrawn.
The current government is clueless. Nothing will happen. Look at precedents.