PIKOM hopes the ministry will continue to support the information and communication technology industry with a focus on promoting local participation in the internet economy

Kuala Lumpur, 22 May 2018: The National ICT Association of Malaysia (PIKOM) today welcomes the new government of Malaysia under the stewardship of Tun Dr. Mahathir Mohamad and the appointment of Yang Berhormat Gobind Singh Deo as the new Communications and Multimedia Minister.

“Congratulations to Y.B. Gobind Singh Deo for his appointment as the New Communications and Multimedia Minister. We believe the appointment of a lawyer to helm this fast-moving portfolio will ensure that the regulatory framework that governs the sector remains relevant and up to date. This will support the growth of the ICT industry in Malaysia.” Said PIKOM Chairman Ganesh Kumar Bangah.

“The South East Asian internet economy is expected to grow from USD 50 Billion to USD 250 Billion over the next 7 years. The government’s efforts since the launch of the Multimedia Super Corridor in 1996 has put Malaysia in a leading position to benefit from this growth.

It is important that the government’s support for the industry continues and we should not lose on this momentum so that we can truly become the internet capital of South East Asia,” Ganesh explains.

In the last few years the government has focused on enriching and enabling a more robust digital economy in Malaysia through many initiatives as part of its strategic digital drive.

“While ensuring that momentum is not lost, the government should place a greater emphasis on promoting local participation in the sector to ensure that local SMEs can participate in this growth,” Ganesh further elaborated.

E-commerce contributed an increased gross domestic product (GDP) of 6.1 per cent or 74.6 billion in 2016 as compared to 5.9 per cent or 68.3 billion in 2015. E-Commerce is one of the fastest growing industries in South East Asia and is expected to grow from USD 10 Billion in 2017 to USD 88 Billion in 2025.

PIKOM recently announced the launch of its inaugural PIKOMs SEA Dragon Venture Platform which aims to match Southeast Asian start ups and scale ups with global investors (i.e. Private Equity, Venture Capital, etc.) who are seeking companies in the region to invest in. After a selection process and mentorship programme, 32 scale ups met with more than 40 investors at the recently concluded event.

The platform is one of the many initiatives to boost the tech industry under 5 chapters headed by PIKOM; CIO Chapter, Outsourcing Malaysia, E-Commerce Malaysia Chapter, PIKOM Cybersecurity Chapter and Venture Investment Chapter.

“PIKOM is an industry led association that has been the voice of the technology industry for 32 years and we have transformed and worked together to drive the economic growth of the industry through our activities.

“Over the years, the industry has received tremendous support from agencies such as Malaysia Digital Economy Corporation (MDEC), Malaysia Venture Capital Management Berhad (MAVCAP) and MDV. These agencies were all started while Tun Dr. Mahathir was Prime Minister and have done a tremendous job over the last few years in putting Malaysia on the global technology map. PIKOM looks forward to work with the new ministry and its agencies to ensure that Malaysia solidifies its leading position in the South East Asian internet economy,” adds Ganesh.

In 2020, PIKOM will be hosting the 24th World Congress on Information Technology (WCIT) in Malaysia.

“The WCIT is regarded as the Olympics of the global tech world and we hope to be working hand in hand with the new ministry in working towards the success of the WCIT in Malaysia,” explained Ganesh.

“Malaysia needs to continue its focus on the internet economy as it is expected to be the fastest growing industry in the region with the biggest economic growth. It is essential that the new ministry focuses on bridging the gaps and enriching the sector with the right initiatives to keep Malaysia at the forefront of the global technology revolution,” ends Ganesh