Malaysian entrepreneurs not exploiting country’s infrastructure to build digital Islamic economy – DagangHalal CEO
Photo credit: KUALA LUMPUR, MALAYSIA - DEC 3, 2010: An unidentified artist showcases a digital sketching of a concept car during Kuala Lumpur International Motor Show on December 8, 2010 / Pistolseven / Shutterstock.com
Today's buzzword in the Islamic economy is “technology.” New software and web concepts give birth to new startups and new jobs every week, making the Internet and digital innovations key ingredients for the growth of any sector.
Against this backdrop, Malaysia is embarking on an ambitious attempt to become a tech-based, high-income economy by 2020. However, retaining talent and finding funding or financing remain major hurdles, limiting the potential for Malaysia’s Small and Medium Enterprises (SMEs), which make up 91 percent of all businesses in the country.
Although Malaysia’s digital economy is still nascent, the country has built a good foundation for tech entrepreneurship. This includes infrastructure and government initiatives to accelerate development.
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Santhia Panjanadan