KUALA LUMPUR: ZTE Malaysia is targeting RM600 million in revenue annually starting this year from its venture into Malaysia’s digital economy.
Its managing director Stephen Ge said the company was upbeat on the country’s digital progress.
“It is an expansion of our business portfolio to take advantage of Malaysia’s growing digital economy.
“I believe Malaysia has what it takes to be a regional digital economy hub.
“It has the right talent, competent companies and government support,” he told NST Business.
Ge said ZTE Malaysia would stay committed to its telecommunication business.
In the 2017 Budget, the government announced key items related to technology, including improving the speed of fixed-line broadband services, tax relief for purchases of selected technology products and services, funding for specific Malaysia Digital Economy Corporation (MDEC) programmes focusing on specific initiatives and the launch of a digital free zone.
Ge said businesses in Malaysia faced a number of challenges as requirements for new technologies and new services had greatly increased.
“The emergence of the sharing economy and massive use of peer-to-peer networks have shown the way forward for businesses of all sizes.
“ZTE Malaysia believes that digital transformation will reach a critical stage of development in the next five years,” he said.
ZTE Malaysia aimed to invest in local research and development, IT infrastructure and solutions that would help local companies better prepare themselves.
“We will seek opportunities to work closer with local partners to help the enterprise market become fully-equipped data centres.”
On its telecommunications business, Ge said ZTE Malaysia would keep its cooperation with its telecommunication partners to ensure their platforms were ready for pre-5G testing and 5G in 2020.