Page 395 - Westport Guide To Malaysia

THE GUIDE TO MALAYSIA 387
IRIS Corporation Berhad’s IRIS Secure Document Solution– a comprehensive ecosystem for instant authentication and verification of certificates, converting traditional paper to electronic documents.
at 39.9%; in 2020, 86.6% of the population accessed the internet through a mobile platform and
82.2% subscribed to pay- tv services. The future is poised to be app-based, on-the-go delivery and delivered through a 5G platform.
62% of businesses have internet connections, and about 28% have an online presence. Only 15% utilize online platforms to export but official statistics do not yet reflect the quantum shift that came about as a result of COVID-19. In 2020 alone, 489,000 micro-SMEs adopted e-commerce and 378,000 SMEs were trained to utilize e-commerce platforms to replace or reduce physical contact with customers.
Public sector adoption of cloud technology has also been accelerated by the COVID-19 pandemic. The need to utilize the internet for public service delivery and interaction has driven the growth of apps and online payment platforms.
Enlightened legislation
has created personal data protection and privacy laws that are of the same standard as the EU. Fintech (financial technology) regulations outlined by
the Securities Commission and the Central Bank are supportive of innovation while protective of users.
The Digital Economy
has become mainstream
in Malaysia, permeating every facet of the economy and creating a vibrant experimental ecosystem that can be a springboard for the growth of digital enterprises in the ASEAN region. Malaysia is well on its way to becoming the digital heart of Southeast Asia.
Policy & Regulation
In February 2021, the Government launched the Malaysia Digital Economy Blueprint (MYDIGITAL) with the goal of leveraging digital technologies to accelerate Malaysia’s path towards
a high-income nation by 2030. Transformation is targeted at the three pillars of society: the public sector, private sector, and the citizenry.
The National 4th Industrial Revolution Policy (4IR Policy), launched in
July 2021, complements MYDIGITAL by targeting five foundational technologies, namely artificial
intelligence, Internet of Things, blockchain, cloud computing and big data analytics, and finally, advanced materials and technologies. The 4IR Policy focuses its delivery on three main areas; global value chains (manufacturing, transportation and logistics), supporting socio-economic needs,
and driving technology adoption.
The supporting institutional framework to enable and grow the digital economy includes the Ministry of Communications
Home Minister Dato’ Seri Hamzah Bin Zainudin (centre) launches the
RM1.16 billion National Integrated Immigration System (NIISe) in April 2021. Implemented by IRIS Corporation, the project leverages artificial intelligence to enhance and streamline Malaysia’s internal and external security.