KUALA LUMPUR (March 16): The factor-driven growth that has served the country well in the past to bring it on the cusp of attaining high-income status is not enough to carry the nation past the high-income threshold, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.
He said this factor-driven growth is becoming more costly to sustain, with every unit of input injected into the economy yielding less gross domestic product (GDP) growth compared to the past.
“New sources of growth are needed to ensure that it is driven by multifactor productivity. We need to build a workforce for the future, drive digitalisation and spur productivity improvements at the sector and enterprise levels.
16 Mar 2021 / 13:36 H. Bernama
KUALA LUMPUR: The factor-driven growth that has served the country well in the past to bring it on the cusp of attaining high-income status is not enough to carry the nation past the high-income threshold, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed (pix).
He said this factor-driven growth is becoming more costly to sustain, with every unit of input injected into the economy yielding less Gross Domestic Product growth compared to the past.
“New sources of growth are needed to ensure that it is driven by multifactor productivity. We need to build a workforce for the future, drive digitalisation, and spur productivity improvements at the sector- and enterprise-levels.
Finance Minister Tengku Datuk Seri Zafrul Tengku Aziz said: In hindsight, Covid-19 may well be the crisis that accelerates tech adoption in helping our people catapult out of the middle-income trap, and in shaping Malaysia into a fully digital economy in her own right. The moment is at hand.
THE year 2020 was an annus horribilis by any definition, and while there is now light at the end of the Covid tunnel with the arrival of vaccines on many shores worldwide, the world still has to grapple with its aftermath.
At the time of writing, slightly over a year has passed since I took office at the Ministry of Finance (MoF). The appointed cabinet members of the new government had barely warmed their ministerial seats when the MCO 1.0 announcement was made to contain the spread of Covid-19.
Connectivity is undeniably the foundation of the Malaysia Digital Economy Blueprint as the majority of the initiatives will not be able to take off if communications coverage is not spread evenly throughout the country.
In the blueprint, connectivity initiatives include heightening rural and education connectivity, a review of laws and legislations to enable broadband to be mandated as a utility as well as the rollout of 5G.
Generally, industry players are optimistic about the plans to roll out and expand connectivity coverage nationwide and lauded the idea of doing so in stages as technology tends to advance rapidly. This approach would allow the government to adjust and pivot its plans in the event that something better emerges, such as 6G.
MDEC to provide funding facilitation support to Malaysian-based startups with its Founders Grindstone and Investor Matching initiatives
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Kuala Lumpur, 11 MARCH 2021: The Malaysia Digital Economy Corporation (MDEC) has launched its two latest Funding Facilitation initiatives for 2021; Founders Grindstone for startup capacity building and Investor Matching, to match startups with Venture Capitals (VCs).
These two initiatives are from MDEC’s Digitally Powered Businesses division and are geared towards opening up opportunities for Malaysian-based startups and tech companies as well as elevating the proficiency of start-up founders to successfully navigate the complexities of raising funds and fulfilling the gruelling demands of potential investors.