KUALA LUMPUR: The 2024 Budget's emphasis on accelerating technology adoption and innovation, strengthening Research and Development (R&D), and expanding digitalisation is a step in the right direction, said Digital Productivity Nexus (DPN).
In a statement, it said the budget announcement resonates with DPN's core objectives and current initiatives, reinforcing its commitment to fostering digital transformation and digital adoption.
These initiatives include Digital Acceleration for Learning and Industry Adoption (DALIA), a programme that helps businesses embrace digitalisation to enhance their efficiency and address operational challenges.
Another initiative is the Digital Platform Network+ (DPN+) which aims to establish a robust community of digital solution providers to elevate the capacity and capabilities of local technology firms, contributing to the growth of the digital economy.
"The budget also underscores the importance of empowering micro, small, and medium enterprises (MSMEs).
"The allocation of RM100 million for digitisation grants and RM900 million in loan funds to enhance business productivity through automation and digitisation is a promising development for MSMEs," it said.
DPN champion, Datuk Wei Chuan Beng said the government's plan to invest RM30 million in the training and development of the local workforce not only addresses the pressing need for skilled talents but also sets the digital industry on a path to realise the Madani economy's ambitious goals.
The DPN is a public-private collaboration under the supervision of the Malaysia Productivity Corporation (MPC) and the Ministry of Investment, Trade, and Industry (Miti).
Meanwhile, MPC director-general, Zahid Ismail, said with the allocation and initiatives outlined in the budget, the Information Communication and Technology (ICT) sector is expected to see a sustained upward trajectory in productivity.
He noted that labour productivity (measured as value added per employment) in this sector, which on average stood at RM384,485, has surpassed the average national labour productivity growth which stood at RM95,628. – Bernama