Domestic digital consumer increased to 88%, says MyDigital

The report charts the progress and achievements made by the MDEB for the last 10 months 

by SHAFIQQUL ALIFF / Pic by BLOOMBERG

MALAYSIA’S digital consumers have increased to 88% of the population last year with 46% of them actively involved in online purchases, says MyDigital Corp in its MyDigital Progress Report 2021 released yesterday. 

The report charts the progress and achievements made by the Malaysia Digital Economy Blueprint (MDEB) for the last 10 months. 

It found efforts to boost the usage of e-payments for merchants and consumers were also successful, with an estimate of 216 e-payment transactions per capita achieved in 2021. 

Payment facilities have also increased substantially last year, with 36 payment facilities per 1,000 users successfully achieved. 

Through the various public and private initiatives to boost adoption of e-commerce among micro, small and medium enterprises (MSME), 235,327 new MSMEs were added last year to the cumulative total of 725,285 businesses that have embraced e-commerce. 

This achievement currently translates to 83% of the target of reaching 875,000 MSMEs by 2025. 

It added that Malaysia continues to be a destination for high value digital investments, with a total of RM16.5 billion in digital investments approved by the government in 2021, on track to achieving the RM70 billion investment target by 2025. 

CEO of MyDigital Fabian Bigar said the most critical feature of the MDEB initiative that is crucial to its success is the Whole-of-Nation approach that the blueprint has adopted. 

Under this approach, participation of all stakeholders is highly welcomed to enable the nation to realise the benefits and overcome the challenges of digitalisation. 

“The aim of this approach is for everyone to come and work together towards achieving the vision and objectives set in the Blueprint and 4IR Policy, while ensuring no one is left behind and that key economic, social and environmental challenges are recognised and addressed,” he added. 

Despite the relatively slow start in 2021 due to restrictions and challenges posed by the pandemic, all initiatives are on track thanks to the unwavering effort of the implementing agencies and the private sector. MyDigital will continue to support and facilitate their implementation in 2022 and beyond. 

The MDEB was launched in February last year, a national initiative that is crucial in realising the Twelfth Malaysia Plan 2021-2025, with the objective to transform Malaysia into a digitally enabled and technology-driven high-income nation in three phases by 2030. 

The MDEB is delivered via six strategic thrusts, 22 strategies, 48 national initiatives and 28 sectoral initiatives. These initiatives are segmented according to six clusters: Economy, Digital Talent, Digital Infrastructure and Data, Society, Emerging Technology and Government.