Malaysia's digital economy projected to reach 31 billion USD in 2024

Malaysia's digital economy is poised to reach 31 billion USD in gross merchandise value (GMV) in 2024, up 16% compared to last year, according to the latest e-Conomy Southeast Asia (SEA) 2024 report by Google, Temasek, and Bain & Company.

Speaking at a press conference to release the report on November 26, Google Malaysia Country Director Farhan Qureshi said Malaysia was among the top 10 countries globally driving AI search interest, especially in the education, marketing, and gaming sectors.

Illustrative image. (Source: digitalnewsasia.com)
Illustrative image. (Source: digitalnewsasia.com)

As more companies deploy AI to innovate, improve efficiencies, and customers’ experiences as well as bring new ideas to life, the demand for AI infrastructure will continue to grow.

Malaysia has recorded a large AI infrastructure investment among Southeast Asian countries at 15 billion USD in the first quarter of 2024.

The report estimates Malaysia's current data centre capacity at 120 megawatts and expects that to expand five times over the coming years.

The Malaysian government is pushing for a digital economy by prioritising AI and semiconductors. The report says e-commerce remained the largest contributor to digital economy, as the sector grew by 17% year-on-year to 16 billion USD. Meanwhile, food delivery and transportation grew 10% to 4 billion USD, driven by a recovery in international tourism demand./.

World

Indonesia rolls out people's schools initiative
World

Indonesia rolls out people's schools initiative

Indonesia's Ministry of Social Affairs has identified over 200 potential sites for the establishment of people’s schools (Sekolah Rakyat), a programme designed to provide free, quality education to children from economically disadvantaged families.

Malaysia warns of trade wars, tariffs
World

Malaysia warns of trade wars, tariffs

Malaysian Prime Minister Anwar Ibrahim reaffirmed Malaysia’s commitment to sustainable, inclusive, and equitable growth, as well as its ambition to strengthen its position as a key hub for trade, investment, and technological innovation.

Thailand rolls out anti-scam sandbox
World

Thailand rolls out anti-scam sandbox

One highlight of the DE fence platform is that it is connected to the databases of telecom operators to obtain the most up-to-date number information. It is also connected to the databases of the Royal Thai Police, the Anti-Money Laundering Office, the AOC 1441 Center, and the DES Ministry.

Cambodia sets up genocide crime-related historical sites
World

Cambodia sets up genocide crime-related historical sites

In the decree issued on February 25, Cambodian King Norodom Sihamoni ordered the establishment of three sites where genocide crimes occurred in the country, namely the former M-13 prison in Kampong Chhnang and Kampong Speu provinces, and the Tuol Sleng Genocide Museum, and the Choeung Ek Genocide Centre in Phnom Penh.

Indonesia plans over 20 energy projects in 2025
World

Indonesia plans over 20 energy projects in 2025

Indonesia remains heavily dependent on coal and is one of the world’s top greenhouse gas emitters. However, President Prabowo Subianto has pledged to phase out coal-fired power generation within 15 years and achieve net-zero emissions by 2050.