KUALA LUMPUR: The newly launched MyDIGITAL - Malaysia Digital Economy Blueprint is expected to enable local businesses to enjoy greater opportunities to build and expand locally, regionally and even globally through digital revenue streams.

They will also have more opportunities to integrate between economic sectors and to be more cost-efficient under the shared economy.

"About 875,000 micro, small and medium enterprises (PMKS) need to accept the use of e-commerce and at the same time we can attract two unicorn companies, either local or foreign," according to the Malaysian Digital Economy Blueprint released in conjunction with the virtual launch of MyDIGITAL today.

The Malaysia Digital Economy Blueprint is formulated as an action plan, outlining efforts and initiatives which will be implemented up to 2030.

Among other things, the initiative aims to enhance digital literacy, social wellbeing and environmental sustainability.

Malaysians will be able to enjoy more high-paying jobs, and the initiative also targets to ensure that all Malaysian households will have internet access and that all students will have access to online learning.

With the implementation of MyDIGITAL, the government aims to attract RM70 billion investment in digitalisation, ensure that 875,000 micro and small and medium enterprises (MSMEs) adopt e-commerce, and create 500,000 new jobs.

Meanwhile, a digitally-enabled government will provide integrated end-to-end online government services which are more efficient, effective and transparent.

“All ministries and agencies will provide cashless payment option in 2022 and achieve 80 per cent usage of cloud storage,” it said.

MyDIGITAL sets out the consolidated initiatives and targeted outcomes, to be delivered through six strategic thrusts, 22 strategies, 48 national initiatives and 28 sectoral initiatives, which will be implemented in three phases up to 2030.

The six strategic thrusts are as follows -- driving digital transformation in the public sector; boosting economic competitiveness through digitalisation; building digital infrastructure; building agile and competent digital talents; creating an inclusive digital society; and building trusted, secure and ethical digital environment.

Under Phase 1 (2021 to 2022), the government aims to focus on accelerating digital adoption to strengthen the digital foundation needed for the rapid and smooth rollout of Phase 2 and Phase 3.

In Phase 2 (‪2023-2025‬), the focus shifts to driving digital transformation and inclusion across the digital economy, emphasising inclusivity among the people and all levels of businesses, while Phase 3 (‪2026-2030‬) would chart the pathway for strong, sustainable growth in the decades to come.