CHAMPIONING MALAYSIA S DIGITAL ECONOMY Hew Wee Choong Vice President of Malaysia Digital Economy Corporation

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1 CHAMPIONING MALAYSIA S DIGITAL ECONOMY Hew Wee Choong Vice President of Malaysia Digital Economy Corporation US ASEAN Business Council 29 th March

2 2 MALAYSIA QUICK FACTS Malaysia is a federal constitutional monarchy located in Southeast Asia Consists of 13 states and 3 federal territories and has a total land mass of 330,803 square kilometres (127,720 sq mi) -Capital- Kuala Lumpur (2,793 sq km) -Population- 31 Million (Population Growth 1.5% per annum) -GDP Per Capita- USD 10, GDP Growth % -Language- English, Malay, Mandarin, Tamil & More -Multilingual- Japanese, Korean, Arabic, Tagalog & More -Literacy- 93.5% 1 st Best Country to Invest in (US News & Wharton University 2017) 3 4 rd th 5 th Global offshoring destination (A.T. Kearney Global Services Location Index 2016) Protecting investors (World Bank Doing Business 2016 Report) Most attractive market for infrastructure investment (3 rd global infrastructure investment index))

3 DIGITAL MALAYSIA AS THE NATIONAL DIGITAL TRANSFORMATION INITIATIVE Driving Investment Building Local Tech Champions Catalysing Digital Innovation Ecosystems Propagating Digital Inclusivity

4 DIGITAL MALAYSIA AS THE NATIONAL DIGITAL TRANSFORMATION INITIATIVE Driving Investment Building Local Tech Champions Catalysing Digital Innovation Ecosystems Propagating Digital Inclusivity

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6 FOCUS AREAS: TECHNOLOGY AND APPLICATIONS Catalyze Digital Adoption Across Industry Sectors 6

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8 DIGITAL MALAYSIA AS THE NATIONAL DIGITAL TRANSFORMATION INITIATIVE Driving Investment Building Local Tech Champions Catalysing Digital Innovation Ecosystems Propagating Digital Inclusivity

9 MDEC S GLOBALISATION INTERVENTION GAIN OVERVIEW Global Acceleration & Innovation Network (GAIN) OUTCOMES Enterprise Development THE Billionaire Tech Club MARKET MENTOR MONEY VISIBILITY Increase in EXPORTS Increase in FOOTPRINTS Increase in GROUP REVENUE 150 GAIN Companies includes 33 Bespoke

10 DIGITAL MALAYSIA AS THE NATIONAL DIGITAL TRANSFORMATION INITIATIVE Driving Investment Building Local Tech Champions Catalysing Digital Innovation Ecosystems Propagating Digital Inclusivity

11 11 ASEAN Data Analytics Exchange A data analytics hub for talent development and adoption SHOWCASE AREA Track 1: Formal Uni. Initiatives Formulate industry relevant curriculum for university adoption (25%) Track 2: Prof. Development Facilitate training providers for BDA professional training (75%) New Forecast: 20,000 data professionals and 2000 data scientists by 2020 TALENT DEVELOPMENT SPACE SANDBOXING ENVIRONMENT/STARTUP CO- LOCATION

12 MALAYSIA S FINTECH OUTLOOK 12 FinTech is challenging the status quo of the financial industry Rather than looking at the FinTech revolution as unwelcoming, financial institutions ought to embrace it as an opportunity Bank Negara Malaysia (BNM) Governor, Datuk Muhammad Ibrahim, 2016 Major Banks Embracing Fintech Finnovasia Global Event: Awareness and Adoption Campaigns Investing into FinTech startups World s 1 st Syariah crowdfunding platform Co-working Space Accelerator/Academy

13 NATIONAL ECOMMERCE ROADMAP Doubling ecommerce Growth PUBLIC-SECTOR epayment Lab SME Adoption Lab Domestic Fulfilment Lab Consumer Protection Lab Cross-border Fulfilment Lab PRIVATE-SECTOR Outcome of syndication RM211B

14 THE DFTZ WAS SUCCESSFULLY LAUNCHED, 4 MONTHS AFTER THE INITIAL MEETING BETWEEN HONORABLE PM AND JACK MA These are very, very exciting things and I want to assure you that I will drive this personally, together with my ministers. We will drive this together." -Honorable Prime Minister Datuk Seri Najib Razak- "Malaysia is very business-friendly and much more efficient than I thought. "I am a strong believer of globalisation. It is still a baby, but we should give it another 20 to 30 years, making it more inclusive and getting more people involved" -Mr. Jack Ma- 14

15 WORLD 1 ST DIGITAL FREE TRADE ZONE (DFTZ) Business Services Financial Services 15

16 16 Ready. Set. GROW! Start-up communities Ubiquitous & Hyperspeed Broadband Hot desking & Co-working spaces Funding Facilitation Mentoring & Coaching Accelerators and Incubators Talent Development

17 ATTRACT GLOBAL TECH ENTREPRENEURS 17 Entrepreneur pass ranging from 1-5 years and even up to years 10 Sound value proposition Validated background checks Entrepreneurs Renowned in the region Proven track record Investors Official Launch: April 2017

18 #mydigitalmaker: Building the Next Generation of Digital Innovators 18 Integrating computational 1 thinking and computer 2 science into the national school curriculum Partnering industry and academia to nurture and groom talented young Malaysians

19 DIGITAL MAKER GLOBAL EXCHANGE (DMGX) Silicon Valley, California (Dec 2016) o 33 candidates across Malaysia selected, aged year old o 10 best digital makers selected to SV o Mentorships by local SV entrepreneurs, VC and corporate campus visits

20 DIGITAL MALAYSIA AS THE NATIONAL DIGITAL TRANSFORMATION INITIATIVE Driving Investment Building Local Tech Champions Catalysing Digital Innovation Ecosystems Propagating Digital Inclusivity

21 21 Enriching B40s through Digital Income Mainstreaming Digital Entrepreneurship for the people Saya yakin program ini akan menjadi senjata ampuh kepada kerajaan untuk membela nasib golongan B40 The sky is the limit when it comes to digital entrepreneurship we can achieve so much more with our creativity and imagination Presented at ICM 23 October 2014 erezeki launched 17 June 2015 Presented at ICM 15 October 2015 eusahawan launched 15 November 2015

22 22 THANK YOU (Formerly Known as Multimedia Development Corporation Sdn Bhd) 28 th MSC Malaysia Implementation Council Meeting