Public-private partnerships key to driving digital economy forward in Asean: MDEC CEO

KUALA LUMPUR: Public-private partnerships are expected to play a crucial role in shaping Asean’s future, particularly in driving the digital economy forward as they are the backbone of progress, said Malaysia Digital Economy Corporation (MDEC) CEO Anuar Fariz Fadzil.

“By working together, the government and the private sectors can accelerate the adoption of transformative technologies, creating an environment where innovation thrives, and businesses can flourish,” Anuar said in a statement as Malaysia primes itself for chairing Asean in 2025.

He added that artificial intelligence (AI) is poised to be a “game-changer” for Malaysia and the Asean region.

Recently, Digital Minister Gobind Singh Deo expressed confidence that Malaysia’s digital economy is on track to surpass the projected 25.5% contribution to the nation’s gross domestic product by the end of 2025.

Also, Prime Minister Datuk Seri Anwar Ibrahim announced that the government would establish a national AI office to coordinate initiatives, including completing a five-year technology action plan and a regulatory framework to increase the adoption of ethical and sustainable AI within the next 12 months.

“AI will play a central role in reshaping industries, enhancing operational efficiencies and driving productivity. It holds the potential to fast-track digital transformation across Asean, ensuring our economies remain agile and future-ready,” said Anuar.

He said MDEC is spearheading programmes to develop AI talent and foster innovation, ensuring that “we are not only consumers but, more importantly, also creators of AI technologies.”

AI has become a key catalyst for growth in many areas – from the advancement of 5G infrastructure, which supports rapid technological development, to education, where the demand for specialists experienced in AI is increasingly critical.

Anuar also stated that emphasis should be placed on local SMEs, ensuring they are equipped to leverage these advancements.

He described SMEs as “the cornerstone of the national economy” and must be enabled to take advantage of the latest technologies, such as AI, to remain competitive and boost productivity.

“Our goal is to empower SMEs by giving them access to digital tools and platforms that allow them to scale effectively. AI can unlock greater efficiencies and help them innovate in ways previously unimaginable,” he said.

To enhance Malaysia’s role as a regional digital leader, Anuar said, foreign direct investments in technology and innovation sectors will be critical. “By creating a favourable business environment and promoting Malaysia’s position as a tech (technology) hub, we can attract international investors looking to tap into Southeast Asia’s booming digital economy.”

Anuar also emphasised the potential for Malaysia to export its home-grown digital innovations to other Asean countries and beyond.

“Malaysia’s burgeoning digital ecosystem has produced cutting-edge solutions that can address challenges faced by other emerging economies. By exporting our innovations, we continue to strengthen our global presence while contributing to the region’s collective digital growth,” he said. – Bernama