From Nurunnasihah Ahmad Rashid
DUBAI, Oct 16 (Bernama) -- Malaysia’s focus on global commercialisation strategies is set to drive significant economic impact for local tech startups and scaleups, particularly as the nation positions itself as the digital gateway to ASEAN.
Malaysia Digital Economy Corporation (MDEC) head of digital industry acceleration Ir Wan Murdani Wan Mohamad said that Malaysia’s approach is to help local companies scale beyond the ASEAN market by providing the necessary support and exposure to global opportunities.
“The market opportunities are huge. By expanding regionally and globally, our tech startups and scaleups can tap into markets that require quality solutions.
“Through various interventions and programmes, we aim to connect these companies with potential clients and help them grow internationally,” he told Bernama after speaking at a panel session titled “Global commercialisation for massive economic impact” here on Tuesday.
The strategy, he added, is designed to profile Malaysian companies and enable them to penetrate global markets, ensuring long-term growth and competitiveness.
Earlier in the panelist session, Wan Murdani said Malaysia, as the 2025 ASEAN chair, is well positioned to showcase the capabilities of its local digital tech companies.
“The Digital Economy Framework Agreement (DEFA) being developed will promote cross-border digital trade and inclusivity across Southeast Asia.
“Our goal is to look at ASEAN as a single, digitally connected market, capitalising on the region’s 650 million-strong population and its economic diversity,” he said.
He emphasised that the digital economy is already contributing 23.5 per cent to Malaysia’s gross domestic product, and the nation aims to strengthen its position as a regional digital leader in ASEAN, where the size of the digital economy is expected to reach US$1 trillion (US$1=RM4.31) by 2030.
Wan Murdani further outlined that MDEC will continue to focus on three critical areas: attracting high-value digital investments, enhancing the local ecosystem for startups and tech firms, and driving digital adoption in key economic sectors.
The panelist session was part of a Startup Genome Ecosystem Leadership Forum, co-hosted by Startup Genome, Gulf Information Technology Exhibition (GITEX) Global and Expand North Star 2024.
-- BERNAMA
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