The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022.
According to the Malaysia Digital Economy Corporation (MDEC), the digital economy is currently contributing 22.6 per cent to the country’s gross domestic product (GDP), with a projected growth to 25.5 per cent by 2025. This level of contribution has made it imperative for the Malaysia Global Business Forum to bring together high-level
speakers at the roundtable to explore ways to chart the way forward for Malaysia’s future of its digital economy.
Amongst the objectives of the upcoming MGBF roundtable is to position Malaysia in Southeast Asia’s digital economy, which was estimated to be valued at USD200 billion (RM853 billion) in gross merchandise value (GMV) at the end of last year. Malaysia is an investment destination for those expanding market share in the digital economy,
which will further expand the trade and business opportunities emanating from Malaysia. The multilateral and bilateral trade agreements have set the tone for this to become a reality.
MGBF’s Founding Chairman, Nordin Abdullah, said, “Now is the opportunity to create a competitive edge through a business-led approach, empowered with the right policies and programmes implemented by the new administration. The recent pandemic was a catalyst for rapid digitisation. The data shows that trend has continued in Malaysia’s services sector. We will use the upcoming forum to release additional data via the ‘Digital Economy and Innovation Report 2023’.”
“With the rise of AI assistance such as ChatGPT, the future has been brought into our daily work lives. This is a natural evolution of the digital economy that not only needs to be managed, but understood in a way that drives productivity. This will be the only way that high-value jobs can be created and maintained in a future-facing economy,” continued Nordin.
According to the The 2023 Global Cybersecurity Outlook report, global geopolitical instability has helped to close the perception gap between business and cyber leaders’ views on the importance of cyber-risk management, with 91 per cent of all respondents believing that a far-reaching, catastrophic cyber event is at least somewhat likely in
the next two years. Following from this, 43 per cent of organisational leaders think it is likely that in the next two years, a cyberattack will materially affect their own organisation, which means enterprises are devoting more resources to day-to-day defences than strategic investment.
Critical questions that will be confronted include how to effectively manage talents in the evolving global digital economy, how to cascade effective strategy and policy into actionable projects that drive digital resilience, the interconnectedness of strategy and policy, and how to recover from a cyber-social crisis that impacts reputation and share price, amongst others.
Murugason R. Thangaratnam, Chief Executive Officer of Novem CS Sdn Bhd – a key industry leader who wil be addressing the forum, said, “The direction is clear, Malaysia will expand its economy to become increasingly digital. As the contribution to GDP increases so too does the value of targets to cyber criminals. The stakes have never
been higher for the corporate sector looking to build empires on digital, data or innovation.”
“Novem’s internal research has shown that corporations spend between 10 to 100 times more post cyber incident than what they would have spent if they had implemented a simple cyber-resilient infrastructure with the requisite human capital development. Organisations have to realise that they need to strike a balance to avoid being too tech centric, by taking a holistic approach in securing the people, processes and governance framework to remain cyber resilient,” continued Murugason.
The full-day event will delve into four strategic areas: ‘Addressing Cyber Threats to Develop an Investor-Friendly Country’, ‘The Corporate Nexus and The Total Media Ecosystem’, ‘Strategic Opportunities in the Data-Driven Digital Economy’, and ‘The Digital Economy and Building an Equitable Future’, while the keynote session will
expand on the critical requirements of government strategy and future-facing policies for the digital economy.
MGBF was established to empower stakeholders at the intersection of international and Malaysian business. Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF will continue to explore threats and opportunities with industry leaders and policy makers to ensure that Malaysia becomes a leader in the context of Asia.
Delegate passes for this important discussion are available from RM500 per person. For more information visit www.MalaysiaGlobalBusinessForum.com.
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
MGBF founding chairman Nordin Abdullah and UMW Toyota president Datuk Ravindran K. will delve into the convergence of automotive innovation and environmental sustainability in Penang, Sarawak, Johor and Pahang.
Hosted by menumiz™ – an end-to-end restaurant management system – this roundtable will feature a case study presentation and a panel session to discuss the latest digital trends, challenges, and opportunities within the food and beverage sector.
In this episode of 'A Working Lunch with Nordin', MGBF's founding chairman, Nordin Abdullah, will host this discussion focusing on the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will focus on regional food security issues and trends in the regional supply chain, and trade regulations and policies, including a new geopolitical tool i.e., weaponisation of supply chains.
MGBF In The News
Planet QEOS, KIS BlOCNG San Bhd, and the Sarawak Land Consolidation and Rehabilitation Authority (SALCRA) have officially signed a tripartite memorandum of understanding (MoU) to establish a collaborative framework aimed at producing bio-hydrogen via the Steam Biomethane Reforming (SBMR) Process. The MoU was signed by Planet QEOS executive chairman Dino […]
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]