ICT industry sees bright prospects in 2018-2019

Last update: 24/12/2018

By Azlee Nor Mahmud

KUALA LUMPUR -- Bright prospects await the information and communications technology (ICT) industry in 2018 and 2019 as it looks forward to an anticipated leap, amid a renewed focus from the country’s new leadership.

According to the National ICT Association of Malaysia (PIKOM), the ICT industry has made remarkable progress and quadrupled in value since 2007, and would welcome any changes that further boost it.

Meanwhile, the value of the ICT contribution to the gross domestic product (ICT-GDP) and e-commerce of non-ICT industries, which has been used as a benchmark in measuring the performance of the industry, has been on the uptrend.

“The ICT-GDP has been on an upward trajectory since 2010 when it registered RM105.7 billion in GDP contribution.

“Based on the average annual growth rate (AAGR) of 7.8 per cent from 2010 to 2017, PIKOM projects the ICT-GDP in 2018 to reach an estimated RM192 billion,” it said in its ICT Strategic Review 2018/2019 Report.....