One of the few industries that have experienced exponential development since the pandemic is the information and communication technology (ICT) sector. ICT made up 22.6% of Malaysia’s GDP in 2021. Malaysia’s public and corporate sectors are currently embracing a national digital transformation. A key element in securing Malaysia’s place in the future of the global economy will be the digitalization of operations across all significant industrial sectors.
The robust government backing is one of the key factors influencing the development of information technology in Malaysia. The government stands to earn significantly from a vibrant IT sector. The existence of a significant number of high-quality jobs in the IT sector and their excellent quality are additional advantages of having an IT industry in Malaysia. Due to Malaysia’s strong economy, there is a huge need to draw people to these fields. The highly educated workforce is another important factor in Malaysia’s booming information technology sector.
Computers and the internet
Computers and the internet aren’t the only two components of information technology. Every part of life makes use of information technology. Some businesses use information technology to help them develop new products or services, while others use it to help them develop new ways to market their already-existing goods or services. In any event, there is no question that the information technology sector will last for a very long period. There is little doubt that Malaysia’s information technology sector will continue to be advantageous to the entire nation. Information technology is essential to the success of a wide range of enterprises, all of which will thrive in the future.
Cybersecurity
The Fortinet research states that during the first quarter of 2022, Malaysia saw 57.8 million viral attacks, or 1.14 percent of all cyberattacks worldwide. In Malaysia, cybersecurity is one of the top priorities for all industries. The Malaysian government is dedicated to providing a safe and secure cyberspace by strengthening all aspects of the nation’s cyber security capabilities. To enhance national cybersecurity preparation and modernize the nation’s cybersecurity measures, the government introduced the Malaysia Cyber Security Strategy (MCSS) 2020–2024.
Malaysia currently lacks a dedicated law that deals with charges linked to cybersecurity. Enforcement organizations like the National Cyber Security Agency are forced to depend on current laws.
Data systems integration and emerging digital technologies
Integration of data systems is a key instrument for the Malaysian government’s planning process. These efforts use digital technologies like AI, the Internet of Things (IoT), big data analytics (BDA), and cloud computing to advance digitalization across all industrial sectors. Emerging technologies, such as virtual reality, blockchain, digital payments, 5G technology, and robotic process automation, are growing quickly in Malaysia to speed up the digital transformation of all industries. The growing demand for these digital technologies in Malaysia presents an export potential for American businesses.
Smart city technologies
The creation of smart cities presents yet another important opportunity. The three major pillars of smart cities are smart and sustainable solutions, smart planning, and smart infrastructure and technologies. ICT, healthcare, energy, the environment, transportation, and infrastructure are just a few of the key industry sectors included in the critical Malaysian government project known as “Smart Cities.”
Procedure for registering businesses
You must first complete the Malaysia company registration process before starting your firm. You must officially register your business in Malaysia, whether you’re a local or foreign investor.
The first step is to assemble your paperwork and register your business with the Malaysian Companies Commission. It is the organization in charge of regulating all enterprises in Malaysia.
For the business registration process, you will require one local shareholder and one local director on your team. You might also need a company secretary, depending on how your company is set up.
