Communications and Multimedia Minister Gobind Singh Deo says private sectors play an important role as the main drivers of innovation and to facilitate digital entrepreneurship. — Picture by Mukhriz Hazim

KUALA LUMPUR, May 3 ― Private sectors need to step up and play a crucial role as the main drivers of innovation and to facilitate digital entrepreneurship.

Communications and Multimedia Minister Gobind Singh Deo said this measure will allow Malaysia to keep abreast with the ever-evolving economic and technology landscape.

“No longer can we be bystanders and react to technological advances that happen around us, we need to proactively step up and prepare for the challenges that come our way.

“To thrive in the digital economy, collaborations, exchange of knowledge and technological know-how with all stakeholders and partners will help us better manage the realities and inevitable outcomes of the digital revolution,” he said during the investment signing ceremony between Axiata Group Bhd and Mitsui & Co, here today.

The government said Gobind also need to encourage more small and medium enterprises (SMEs) to adopt digital economy so they can be part of the digital ecosystem and take advantage of the digital economy.

“However, not many businesses are leveraging on these (ICT developments) opportunities for growth and success. In fact, surveys have indicated that many local SMEs are not digitising their business, despite the country’s improved connectivity,” he said.

At the signing ceremony, Axiata Group Bhd’s digital service arm, Axiata Digital Sdn Bhd has established US$500 million (RM2.07 billion) valuations for its digital core businesses with Japanese based Mitsui & Co Ltd.

The core digital businesses include an e-wallet service; Boost, the largest independent digital agency; ada (rpt. ada), and global platform provider Apigate. ― Bernama