Publication: Malaysia's Digital Economy: A New Driver of Development
Loading...
Files in English
41,801 downloads
Published
2018-09
ISSN
Date
2018-09-07
Author(s)
Editor(s)
Abstract
This report examines three interrelated issues — digital connectivity, digital entrepreneurship, and taxation of digital platforms — that are closely aligned with Malaysia’s goal of becoming the e-commerce hub of the region. By leveraging the internet, smartphones, Big Data, the internet of things, artificial intelligence, and other technologies, Malaysia can increase productivity, spur innovation, and improve livelihoods. Digital technologies can drive economic growth in Malaysia through three channels. First, they can promote inclusion by enabling existing firms and entrepreneurs to serve markets that are currently underserved. Second, they can lower costs and increase efficiency for existing firms and entrepreneurs to make them more competitive. And third, they can encourage innovation and scale economies, allowing entirely new forms of business and entrepreneurship to emerge.
Link to Data Set
Citation
“World Bank Group. 2018. Malaysia's Digital Economy: A New Driver of Development. © World Bank. http://hdl.handle.net/10986/30383 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Related items
Showing items related by metadata.
Publication ICT for Greater Development Impact(Washington, DC, 2012-06-15)Information and communication technologies (ICTs) have great promise to reduce poverty, increase productivity, boost economic growth, and improve accountability and governance. That promise only grew when ICTs underwent a revolution in the 2000s. Nearly 5 billion people in developing countries now use mobile phones, up from 200 million at the last decade's start, and the number of Internet users has risen 10-fold. People across the globe do much more than chat and play games. They learn where best to fish and what market to sell their produce in. They trace cattle from pastures to supermarkets. They report illegal logging and misuses of local budget. They pay bills, send money back home, and receive cash transfers. They do business on mobile phones. They use ICTs to prevent violence against women and community radio to empower them. They get state-of-the-art schooling online. They remotely monitor and switch on irrigation pumps. The World Bank Group (WBG) has worked with its clients as they have pursued these opportunities and has supported sector reforms through technical assistance and lending operations, guided by its 2001 ICT strategy. The WBG has been most successful in fostering ICT sector reform and attracting private investment in mobile communications. WBG support for ICT applications has grown rapidly over the past decade. More than 1,300 active Bank investment projects have ICT components (74 percent of the Bank's 1,700-project portfolio) to modernize internal processes and upgrade service delivery. Results have been mixed, with only 59 percent of Bank project components for ICT applications achieving or likely to achieve their objectives fully or substantially.Publication Transforming East African ICT Sector by Creating a Business Engine for SMEs(World Bank, Washington, DC, 2011)For the purposes of this project, the East African countries included in the study were Kenya, Rwanda, Tanzania, and Uganda. The focus for this project was Small and Medium-sized Enterprises (SMEs) as for-profit or nonprofit organizations with less than 50 employees and not exceeding USD 1,000,000 in annual revenues/turnover. The main output of this project was a proposed program of interventions to drive transformational change. To succeed in this ambitious endeavor, the project articulated clear objectives and designed a blueprint for implementation including levels of resourcing, budget and monitoring metrics. Over the course of the project the team conducted brief surveys with over 90 entrepreneurs, over 50 percent of who had 3-10 years of experience in the Information and Communication Technology (ICT) sector and primarily worked at companies with 5 employees or less.Publication The Transformational Use of Information and Communication Technologies in Africa(World Bank, Washington, DC, and African Development Bank, Tunis, 2012-09)This new flagship report for the eTransform Africa Project, produced by the World Bank and the African Development Bank, with the support of the African Union, identifies best practice in the use of Information and communication technologies (ICTs) in key sectors of the African economy. Under the theme transformation-ready, the growing contribution of ICTs to agriculture, climate change adaptation, education, financial services, government services, and health is explored. In addition, the report highlights the role of ICTs in enhancing African regional trade and integration as well as the need to build a competitive ICT industry to boost innovation, job creation, and the export potential of African companies.Publication Transforming Arab Economies : Traveling Knowledge and Innovation Road, Overview(Washington, DC, 2013-09-17)Over the past decade, some countries of the Middle East and North Africa region have spurred economic growth and improved their global competitiveness by taking the first steps in the direction of the knowledge economy. The World Bank Group focuses on Arab societies that deepen their commitment to reforms in four key policy areas: developing more open and entrepreneurial economies, preparing a better-educated and skilled population, improving capabilities for innovation and research, and expanding information and communication technologies. The success of a knowledge-economy strategy depends on coordinated progress on all four fronts, with bold approaches tailored to each country's challenges and opportunities. This report includes chapters organized into three main parts. Part 1 presents the rationale and approach for the transition to the knowledge- and innovation-driven economy. Part 2 describes the policies to be implemented in key areas of the knowledge economy: governance, education, innovation, and information and communication technology. Part 3 discusses economic diversification initiatives that can help countries make the most of their knowledge-economy investments. The three annexes to this report review the literature on the relationship between the knowledge economy and job creation in the Middle East and North Africa region, provide insights on a series of country experiences from across the world in developing knowledge-based development strategies, and survey knowledge-economy issues in several Arab countries and highlight policy initiatives that are adapted to their specific country circumstances.Publication Korea and the Knowledge-based Economy : Making the Transition(Washington, DC: World Bank and OECD, 2000-06)Knowledge is fast becoming a key factor in economic and social development worldwide. Rapid innovations in science, communications and computing technologies are opening up new opportunities for countries to harness knowledge and participate more fully in the global economy. Developing countries that successfully make the transition to the knowledge-based economy will have unprecedented possibilities to become more competitive in world markets and to participate in the global information society. New technologies can also extend the benefits of knowledge to all segments of society and help countries close the gap in living standards among their citizens. This book defines a knowledge-based economy as one where knowledge is created, acquired, transmitted and used effectively by enterprises, organizations, individuals and communities. It does not focus narrowly on high-technology industries or on information and communications technologies, but rather presents a framework for analyzing a range of policy options in education, information infrastructure and innovation systems that can help usher in the knowledge economy. It also makes the case for better co-ordination among the government, the private sector and civil society to enhance competitiveness and advance economic and social development.
Users also downloaded
Showing related downloaded files
Publication Malaysia : Report on the Observance of Standards and Codes (ROSC), Corporate Governance Country Assessment(Washington, DC, 2005-06)This ROSC assessment of corporate governance in Malaysia benchmarks law and practice against the OECD Principles of Corporate Governance, and focuses on listed companies. Important corporate governance reforms have been implemented in Malaysia since 1998, when a high-level Finance Committee on Corporate Governance, consisting of both government and industry, was formed to identify and address weaknesses highlighted by the Asian financial crisis. Key reforms have included the development of a comprehensive master plan to further develop the capital market, the demutualization of Bursa Malaysia, introduction of a Code of Corporate Governance, and changes in the composition and role of its Board of Directors. In 2004, disclosure rules and corporate whistleblower protections were strengthened. In 2005, major reforms commenced to overhaul government-linked corporations (GLCs). The report stresses that in order to further improve its corporate governance practices, Malaysia faces the following challenges: the government's level of equity ownership remains large; free float remains low; and directors' accountability and protection for minority shareholders need further improvement. In addition, the role of institutional investors and shareholder activism in the corporate governance framework needs to be strengthened. This report identifies several key measures that focus on enforcement and implementation, including: Continued and consistent enforcement of disclosure and reporting requirements by the Securities Commission, with a focus on quality of information provided; Implementation of legislative reform to strengthen directors' independence and accountability to investors; and Development of a legal basis for and promotion of an active institutional investor community.Publication Digital Progress and Trends Report 2023(Washington, DC: World Bank, 2024-03-05)Digitalization is the transformational opportunity of our time. The digital sector has become a powerhouse of innovation, economic growth, and job creation. Value added in the IT services sector grew at 8 percent annually during 2000–22, nearly twice as fast as the global economy. Employment growth in IT services reached 7 percent annually, six times higher than total employment growth. The diffusion and adoption of digital technologies are just as critical as their invention. Digital uptake has accelerated since the COVID-19 pandemic, with 1.5 billion new internet users added from 2018 to 2022. The share of firms investing in digital solutions around the world has more than doubled from 2020 to 2022. Low-income countries, vulnerable populations, and small firms, however, have been falling behind, while transformative digital innovations such as artificial intelligence (AI) have been accelerating in higher-income countries. Although more than 90 percent of the population in high-income countries was online in 2022, only one in four people in low-income countries used the internet, and the speed of their connection was typically only a small fraction of that in wealthier countries. As businesses in technologically advanced countries integrate generative AI into their products and services, less than half of the businesses in many low- and middle-income countries have an internet connection. The growing digital divide is exacerbating the poverty and productivity gaps between richer and poorer economies. The Digital Progress and Trends Report series will track global digitalization progress and highlight policy trends, debates, and implications for low- and middle-income countries. The series adds to the global efforts to study the progress and trends of digitalization in two main ways: · By compiling, curating, and analyzing data from diverse sources to present a comprehensive picture of digitalization in low- and middle-income countries, including in-depth analyses on understudied topics. · By developing insights on policy opportunities, challenges, and debates and reflecting the perspectives of various stakeholders and the World Bank’s operational experiences. This report, the first in the series, aims to inform evidence-based policy making and motivate action among internal and external audiences and stakeholders. The report will bring global attention to high-performing countries that have valuable experience to share as well as to areas where efforts will need to be redoubled.