LAUNCHING OF DIGITAL SOLUTION DIRECTORY

OPENING AND LAUNCHING SPEECH

YB DATUK LIM BAN HONG

DEPUTY MINISTER OF INTERNATIONAL TRADE AND INDUSTRY

DIGITAL FUTURE

LAUNCHING OF DIGITAL SOLUTION DIRECTORY

23

NOVEMBER

10.15

2021

10.25

(TUESDAY)

AM YANG BERUSAHA MR. RAM GANESAN KARTHIGASU

Chairman of Malaysia Productivity Corporation (MPC),

YANG BERBAHAGIA DATO’ ABDUL LATIF BIN HAJI ABU SEMAN

Director General of Malaysia Productivity Corporation (MPC),

YANG BERBAHAGIA DATO’ WEI CHUAN BENG

Champion of Digital Productivity Nexus (DPN),

YANG BERUSAHA MR. ONG KIAN YEW,

Chief Executive Officer of National Tech Association of Malaysia (PIKOM)

Champions of Productivity Nexus,

Heads of Government Departments and Agencies,

Captains of Industries,

Industry Associations,

Members of Media,

Distinguished Guests

Salam Sejahtera and a very good morning.

1. It gives me great pleasure to welcome all of you to the Digital Future and Launching of the Digital Solution Directory. It is indeed an honour and privilege to be part of today’s event organised by Malaysia Productivity Corporation (MPC). On behalf of the Ministry of International Trade and Industry (MITI), I would like to thank everyone for your presence. 2. In the age of digital disruption, technology will be at the core of this transformation of businesses and society. Our interaction in social spaces, business communications and dealing with our customers have changed. This pandemic has given us numerous wake-up calls since the first of MCO, indicating that transformation through digital technologies is essential as the way forward.

Ladies and gentlemen,

3. Globally, Malaysia ranks 22nd out of 64 countries in the ‘digital transformation in companies’ indicator of the World Competitiveness Yearbook 2021, improved 4 positions from 2020. With strong support and smart collaborations between public and private sectors, there are certainly more avenues to guide our companies to digitally empower Malaysian businesses.

4. With the establishment of the Malaysia Digital Economy and Fourth Industrial Revolution Council, the Government is providing clear and coherent policy on digitalisation and technology to scale the country’s capabilities in technological advancements and power the growth of the digital economy.

5. Furthermore, the COVID-19 pandemic has created an urgency for Malaysia to deal head on with the ‘new norm’ to provide avenues where all the sectors of every industry can engage, collaborate, and potentially increase productivity for their businesses. Thus, the business matching approach will push forward the need to embrace automation and digital fully in the efforts to ensure the continuity and competitiveness of the industries. 6. The avenue is expected to accelerate technology adoption among businesses, drive demand for technology, and lead to productivity improvement businesses. The goal is to establish cost-effective supply and demand chain. Technology providers offer solutions to end-users which may minimise business costs.

Ladies and gentlemen

7. The ICT industry recorded a 2.8 percent productivity growth in 2020, the second highest among the nine priority sub-sectors. With the increased demand for smart gadget, virtual telecommunication devices and e-commerce, we believe that ICT sector will continue to grow over the next few years hence continue to boost the productivity performance of ICT sector.

8. The world is becoming increasingly more digital, with opportunities opening in local and regional markets as digital for people, business, and governments becomes the new normal. Next year, Malaysia’s economy is projected to expand between 5.5 per cent and 6.5 per cent based on strong fundamentals and a diversified economic base.

9. The renewed focus will be on increasing foreign direct investments, enhancing productivity and re-instilling consumer confidence. Prioritising essential areas such as improving the ease of doing business, enhancing the usage of technology and digitalisation as well as ensuring a stable labour market would be requisite for continued flow of high value-added investments into the country. Ladies and gentlemen,

10. In this regard, MITI will continue to provide the impetus and assistance to strengthen the industries particularly the SMEs and support them to drive productivity and ensure sustainability.

11. It is indeed noteworthy that the Government has unveiled an expansionary budget for 2022 with a clear focus on exponential productivity growth and competitiveness through the adoption of digital technology and IR4.0.

12. Under the Twelfth Malaysia Plan, initiatives to boost digitalisation and advanced technology adoption will be emphasised. The focus will be on advancing the digital economy, mainstreaming digitalisation for inclusive development, accelerating R&D&C&I as well as capitalising on the potential of emerging technologies. The initiatives are expected to enhance national competitiveness and resilience, thus preparing Malaysia to be a high technology-based economy.

13. Clearly, digitalisation will boost productivity growth for SMEs in Malaysia – for the immediate, medium and long term. Highly productive economies must adapt quickly to technological developments and this involves the willingness of businesses to acculturate new ways of producing goods and services, resulting in innovative ways of operating businesses with the correct business matching. 14. Among the enablers is the SME Digitisation Grant Scheme initiative enhancement. For 2022, the total funding for this scheme has been increased to RM200 million with RM50 million dedicated towards microentrepreneurs in rural areas.

Ladies and Gentlemen,

15. I would like to congratulate MPC, for being active to facilitate the industries especially SMEs in accelerating the digital transformation. The publication of Digital Solution Directory is vital for companies to change their operation methods and make good use of digitalisation and automation to supplement their business.

16. For the business to survive, business leaders must be able to manage uncertainty. Those who have the will, will gain insight into changes and make the best decision. Companies that are well prepared and at the forefront will naturally follow the trend, while those that find it hard to adapt would, in time, be eliminated. During this time, business leaders must take charge, to go big, with digital. It is either you go digital, or you go down. I hope all of us make good use of the external resources and strengthen our capabilities internally so that these elements complement each other to bring about more opportunities.

Ladies and Gentlemen, 17. The year 2021 and beyond will see a stronger re-emergence and an optimistic promising prospect of the country. Sustainable long-term recovery will hinge on measures for business reorientation and innovation. It calls for a “great reset” for businesses to quickly redeploy talent, launch new business models, enhance productivity, develop more medium and long-term strategies that seek to prepare industry for the post-COVID “new normal”. I am optimistic that the launching of this directory will open our eyes on more innovative ideas into what lies ahead.

18. On that note, ladies and gentlemen, I take great pleasure to officiate the Digital Future – Launching of Digital Solution Directory

Thank you.

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