Malaysia 5.0? SMEs to play critical part in digital transformation

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MDEC chairman wants SMEs to take an active role in nationwide digitalization efforts, dubbed ‘Malaysia 5.0’. Source: AFP


The chairman of the Malaysia Digital Economic Corporation (MDEC) is encouraging SMEs to take an active role in nationwide digitalization efforts, dubbed ‘Malaysia 5.0’

The newly appointed chairman of the Malaysia Digital Economic Corporation (MDEC) has called for small-medium enterprises (SMEs) in the country to embrace digital processes and systems, as a means of accelerating their participation in the country’s digital economy, dubbed ‘Malaysia 5.0’.
In a public statement, new MDEC chairman, Dr Rais Hussin, has outlined Malaysia 5.0 as a “problem-solving approach to society’s challenges and problems” via the deployment and application of Industry 4.0 technologies, that are capable of integrating the physical and digital environments together.
The idea stems from Japan’s “Society 5.0”, which defines the concept as “a human-centered society that balances economic advancement with the resolution of social problems by a system that highly integrates cyberspace and physical space.”
Society 5.0 is described as the next evolutionary stage of human societal communities, that started with the hunting and gathering society (Society 1.0), followed by the agrarian or agricultural society (Society 2.0), the industrial society (Society 3.0), and lastly the information society (Society 4.0).
The new chairman …

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