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Malaysia’s Construction Plan for the Financial Sector 2022-2026 is started on the first day of MyFintech Week 2022 (MyFW 2022). After 2021 Blueprint for the digital economy in Malaysia, The global economy, including Malaysia, continues to face severe challenges from the COVID-19 pandemic. This event has affected Malaysians of all races and social classes, as well as workers in the public and private sectors. Entire industries were faced with upheavals and many everyday interactions now take place virtually.
In 2020 alone, the growth of the digital economy has understandably accelerated as the COVID-19 pandemic spawned new digital businesses, forced traditional brick and mortar businesses to switch online, and millions of Malaysians for their e-commerce, entertainment, and even educational needs . Providing quality education now depends on students’ broadband connection at home or access to laptops or computers.
So that no Malaysian is left behind on the wave of digitization, it is time to lay the foundations for the country’s transformation towards a progressive digital economy. This foundation means building the infrastructure, fostering innovation and creating an ecosystem for all of us to contribute to a higher standard of living, the fruits of which all Malaysians will enjoy.
MyDIGITAL outlines plans to accelerate Malaysia’s progress as a technologically advanced economy through the Malaysia Digital Economy Blueprint. This paves the way to strategically position the nation as a competitive force in this new era. MyDIGITAL is a key factor in delivering the twelfth Malaysia Plan 2021-2025 (RMKe-12) as the country works towards Wawasan Kemakmuran Bersama 2030. In the face of this digital economy transformation, collaboration is essential to take the necessary steps to adapt and work together for the next normal.
With MyDIGITAL, Malaysia can successfully develop into a digitally driven, high-income country and a regional market leader in the digital economy. MyDIGITAL wants the rakyat to face digitization in order to improve their quality of life and their standard of living. The vision of the Malaysia Digital Economy Blueprint is to be a regional leader in the digital economy and achieve inclusive, responsible and sustainable socio-economic development.
The Malaysia Digital Economy Blueprint includes a performance-based governance framework and a nationwide approach of partnerships between the rakyat (People), corporations (private sector) and government (public sector). In November 2020, Malaysia set up the National Digital Economy and 4IR Council, chaired by the Prime Minister, to accelerate local skills to implement digitization.
MyFW 2022, which takes place from January 24th to January 28th, 2022, is expected to cover a wide range of pressing issues relating to the future of the financial industry. Under the motto “Advancing Digitalization for Recovery, Sustainability, Inclusion”, the conference is based on seven priorities: Sustainability, Resilience, New Realities for Finance, Economy, Financial Health and Inclusion, Start-ups and Regulations.
Experts from all over the world will share their perspectives at MyFW 2022. Your insights can inspire critical issues that the financial sector needs to address and stimulate action. The financial sector must be well positioned to support Malaysia’s economic transformation towards a more innovative, sustainable and digital future, said an expert.
MyFW 2022 will feature more than 100 speakers including the country’s finance minister, the governor of BNM, the United Nations Development Program administrator, the editorial staff and chief editor-in-chief, and industry leaders.
The main conference will feature a combination of keynotes, tech talks, panel sessions and fireside chats on relevant topics affecting the future financial and economic landscape of Malaysia. These include climate resilience, the future of money and new technologies. On days 4 and 5 there will also be the opportunity for companies to take advantage of support for growth and innovation. Start-ups can arrange individual consultations on regulatory and compliance issues, among other things.
At the same time, small and medium-sized enterprises (SMEs) and companies can access special support channels that cover topics such as the digitization of SMEs, talent as well as financing and investments. MyFW 2022 accelerator programs will also include 15 innovations aligned with the Sustainable Development Goals, with live demos on day 4.