Mapping Malaysia's Resource Centres

09 Information and Communication Technologies (ICT) In the 90s, Malaysia began its transformation from a resource-driven economy to knowledge- led with the establishment of the Multimedia Super Corridor (MSC). Created to accelerate the growth of the Digital Economy, MSC is a designated ICT-focused zone for Malaysian ICT companies, startups and foreign companies. These organisations are provided with access to high-speed internet facilities, diverse human capital and proximity to Malaysia’s administrative and commercial centres on top of attractive tax breaks, thereby increasing trade activities and investment in Malaysia. Today, ICT remains a key driver in Malaysian economic growth and is recognised as the main enabler for the Digital Economy to achieve high-value economy. Forecasts predict positive growth from Malaysia’s ICT industry in the medium to longer term owing to the emergence of Big Data Analytics, Artificial Intelligence, Virtual Reality, and Robotics - drivers of the 4th Industrial Revolution. Potential areas of wealth creation such as digital content development as well as software solutions and services will be the focus for development and to encourage the participation of local companies. In the journey towards a digitalised Malaysia, the Ministry of Communication and Multimedia has also pledged industry support in the form of increased internet access speeds at lower rates. The increased accessibility of broadband is expected to create more job opportunities while enhancing business and trade activities. Among Malaysia’s strengths in the ICT sector are services such as Banking, Finance & Insurance Services (BFSI) and e-government solutions (security). Within ASEAN, Malaysia is currently the leading banking software and payment gateway solutions provider. In addition to that, Malaysia is also leading in Intellectual Property (IP) creation in Southeast Asia and has established itself as the regional outsourcing destination for animation and video games. Animations, games and movies fall under the Digital Content sub-sector of the ICT industry and has experienced exponential growth in the last few years. The Malaysian Digital Content industry is a high-potential sector with an export sale value of over RM1 billion. To date, Malaysia is home to over 350 studios that are directly involved in various stages of development and production, which translates to more than 11,000 jobs covering key creative content sectors.