AUGUST 6 — Malaysian innovation must rise to overcome the challenges of the post-Covid recovery. When we look back upon this critical time, we might even appreciate the unique opportunity it has given us to upgrade some of the legacy infrastructure and future proof it to facilitate new growth in the digital economy.
A key aspect of the Malaysia 5.0 vision is building this digital infrastructure with a unified alliance of stakeholders both within government and across private enterprise. This “Unity Alliance” is an economic coalition that will serve society in its migration into the digital age. Malaysia 5.0 is inspired by Japan’s Society 5.0 initiative — a concept that proposes to put society at the centre of technology so that technology serves society and not the other way around. It also allows for the management of disruptive new systems, such as fintech, to ensure that benefits accrue fairly across society without bias.
In areas where we enjoy competitive strengths, such as Islamic Fintech, Malaysia 5.0 positions Malaysia in the global marketplace of banks, insurers, telcos and etc, to provide Islamic digital services.