KUALA LUMPUR – Malaysia needs to start developing data literacy from school level to ensure the long-term digital sustainability of the nation, according to digital economy leaders.
Speakers at the recent Malaysia Global Business Forum (MGBF) said it was vital to nurture and strengthen skilled human capital in the digital economy, where every individual is “digitally resilient” and able to regularly upskill themselves so that they have the right skill sets moving forward.
“This will ensure that they are future-proofed so that Malaysia can be an investment destination, not because we have cheap labour, but due to our highly qualified and productive individuals,” Communications and Multimedia Deputy Minister Datuk Zahidi Zainul Abidin said at the event held last month.
The forum also discussed the key role the government plays in laying the foundation for the country to transform into an advanced digital economy, which will require the construction and protection of advanced digital infrastructure to facilitate innovation and support a digital ecosystem.
Experts stressed on the need for an emphasis on small and medium enterprises and government-linked companies, as both are the twin drivers of the future economy.
The government at the same time will need to establish regulatory frameworks and guidelines for the digital economy while working with regional partners to ensure their structures are aligned.
“The government should adopt a more innovative, aggressive, proactive and adaptive approach to stay ahead of cyber threats. Efforts are internationally benchmarked and play a part in the ease of business calculations,” read a report issued by the MGBF.
The suggestions were made after several issues were identified throughout the discussion, including how there is a lack of digital resilience in the corporate sector, leading to reputational and financial losses.
The report also pointed out that communicators in government and corporate sectors must be aware of cyber threats and digital deficiencies to be able to effectively communicate in times of crisis.
The next roundtable, titled Security Concerns in Critical Value Chains, will be held on May 24 and is the third out of a four-part series on The Evolving Threat Matrix of the Digital Economy. – The Vibes, April 27, 2022
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