“It’s Time for Us to Create New Solutions!” – MDEC’s Bold Vision to Lead Malaysia’s Digital Transformation at the Horizons 2023/24 Launch
The Malaysia Digital Economy Corporation (MDEC) has never been shy about its ambitions, but with the unveiling of the Horizon 2023/2024 publication, the bar has been raised to new heights.
At an exclusive launch event held on 20th August 2024, launched by the Ministry of Digital’s Deputy Minister, YB Datuk Wilson Ugak Anak Kumbong, Malaysia’s industry leaders gathered to dissect what the future holds for the country’s digital landscape. The takeaway? MDEC isn’t just looking to keep up with the global digital race – they’re gearing up to lead it!
From Consumers to Creators: MDEC’s Vision
MDEC’s CEO, Ts Mahadhir Aziz set the tone with a clear message: Malaysia is done playing the part of the consumer. The time has come for the nation to roll up its sleeves and create!
“With AI being leveraged all over the world, and with Malaysia investing to empower this technology, enough of us being the consumers – it’s time for us to create new solutions!” he proclaimed. Mahadhir has set a new standard, with a vision not only to keep pace with digital giants but to emerge as one of the leaders in the industry.
And how does he envision achieving this goal? By nurturing homegrown talent and fostering innovation within!
The Horizons 2023/24 publication lays out MDEC’s strategy, but the real meat of the discussion came during the panel. Mahadhir didn’t mince words when he highlighted the critical role of reskilling and upskilling the workforce. With major investments rolling in, Malaysia’s talent pool needs to be ready, or risk being left behind.
But here’s the catch: Malaysia’s current digital landscape isn’t exactly picture-perfect.
The truth, Mahadhir admits, is that the local talent pool isn’t always up to scratch. “There’s a mixed bag of feedback we get from companies – some will continue, but the popular line is that ‘oh, we can’t find talents in Malaysia,” he remarked. The challenge isn’t unique to Malaysia, but it’s a glaring issue that needs to be addressed.
The Talent Conundrum: Can Malaysia Deliver?
This isn’t just about getting people into digital jobs; it’s about making sure they’re equipped to excel!
As Raja Azmi Adam, Director of Strategic Pursuit, Public Sector, ASEAN at Google Cloud, pointed out, the problem isn’t just with the quantity of talent but the quality. “We do think Malaysia produces good talent, but are we being pushed enough to nurture it further?” he asked pointedly. The implication is clear; there’s potential, but the nurturing process needs a serious upgrade.
Raja Azmi emphasised the need for a creative mentality, rather than simply repackaging what big players like Google bring to the table. His critique hits home – Malaysia has the tools, but is it using them to build something new, or just polishing what others have?
Dato’ Abdul Rashid Mohd Ghani, CEO of Kridentia Tech, put it bluntly; “As a country, are we aiming to be innovators, or are we content to remain workers?” His analogy to the EV ecosystem is telling – while the world’s fixated on the end product, it’s the core technologies, like software and batteries, that truly matter. Malaysia must decide whether it wants to assemble the digital equivalent of EVs or produce the engines that drive them.
But there’s hope. The Ministry of Higher Education is already collaborating with MDEC to overhaul university programmes, aiming to churn out graduates who are not just job-ready, but future-ready. Then there’s the push for micro-credentials, a nod to the need for rapid, targeted learning that aligns with industry demands.
It’s a promising start, but as Mahadhir himself hinted, the journey is far from over.
The Innovation Imperative: Will Malaysia Sink or Swim?
So where does this leave Malaysia? The message from MDEC is clear: Innovate or be left behind. But Malaysia’s definition of innovation goes beyond shiny new technology – it’s also about the mindset.
MDEC, however, have made significant strides to work around this question.
Last week, they penned Memorandum of Understanding (MoU) agreements with EDOTCO and Boost for further development of infrastructure growth and financial inclusion plans. At this launching event, they announced another MoU exchange with the International Trade Centre (ITC), a subsidiary of the United Nations and World Trade Organization, and it aims to boost digital initiatives, helping Small and Medium Enterprises (SMEs) grow their businesses beyond the Golden Peninsula.
“This is more than just a partnership; it’s a strategic move to position Malaysia as a global digital player,” Mahadhir proclaimed.
Dream Big! – Turning Ambition Into Reality
MDEC’s digital future is bright, but it certainly won’t be a walk in the park. The Horizon 2023/24 publication lays out an ambitious plan. However, the success of this plan hinges on whether Malaysia can transition from a consumer of digital technologies to a creator of them. The talent is there, the infrastructure is growing, and the willpower is palpable. But will it be enough?
During the closing speech, the Deputy Minister of Digital, Datuk Wilson, reassured that crucial plans have been blueprinted and undergone to cultivate more financial investments and accelerate the digital economy. “The government has introduced regulations focused on the digital economy to progressively increase its share of the national gross domestic product,” the Deputy Minister proclaimed.
This launch of the publication is merely a ‘side quest’ to MDEC’s ultimate goal. They have a lot more planned, with discussions with other tech leaders for more investments and MoU agreements that are still ongoing or yet to be announced officially, Malaysia’s digital journey is far from over.
The floor is theirs now; will Malaysia rise to the challenge of becoming a digital powerhouse?
