In a fast-paced world driven by technological advancements, Malaysia is taking a significant leap forward with its 2024 Budget. IBM Malaysia, a leading player in the technology sector, commends the forward-thinking initiatives unveiled in this budget. These initiatives hold the potential to reshape the nation’s digital landscape, boost innovation, and accelerate economic growth.
The key tech-forward components of the 2024 Budget and IBM Malaysia’s perspective on their impact.
Investing in Innovation: One of the standout features of the 2024 Budget is the commitment to fostering innovation. The allocation of substantial funds to support research and development in cutting-edge technologies is a testament to Malaysia’s commitment to remaining competitive in the global tech arena. IBM Malaysia recognizes the importance of this initiative, as it paves the way for technological breakthroughs and positions the nation as a hub for innovation.
Digital Transformation Acceleration: The 2024 Budget also prioritizes digital transformation across various sectors. Investments in digital infrastructure, connectivity, and cybersecurity are poised to drive Malaysia’s digital evolution. IBM Malaysia applauds this focus on enhancing the nation’s digital readiness, which is vital for long-term economic growth, efficiency, and competitiveness.
Support for Tech Startups and SMEs: Small and medium-sized enterprises (SMEs) and tech startups are the backbone of any thriving tech ecosystem. The budget introduces measures to empower these entities through grants, incentives, and capacity-building programs. IBM Malaysia recognizes the importance of a robust startup ecosystem, as it is often where groundbreaking technologies and disruptive ideas originate.
Education and Skill Development: Building a technologically advanced nation requires a skilled workforce. The 2024 Budget underscores the importance of education and skill development in the tech sector. Investments in STEM (Science, Technology, Engineering, and Mathematics) programs and vocational training are steps in the right direction. IBM Malaysia emphasizes the significance of nurturing local talent and equipping them with the skills needed to excel in a rapidly evolving tech landscape.
Green Technology and Sustainability: Sustainability is a core concern in today’s world, and technology plays a pivotal role in achieving environmental goals. The 2024 Budget allocates resources to promote green technology and sustainable practices. IBM Malaysia acknowledges the importance of merging technology and sustainability for a more environmentally responsible future.
IBM Malaysia’s Commitment: As a leading technology company, IBM Malaysia is fully committed to supporting the initiatives laid out in the 2024 Budget. We see this as an opportunity to collaborate with the government, businesses, and the broader community to drive innovation, facilitate digital transformation, and contribute to Malaysia’s growth as a tech-forward nation.
IBM Malaysia Sdn Bhd has praised the government’s strategic allocations in the 2024 Budget to advance technology and digitalization across multiple sectors.
According to Catherine Lian, managing director and technology leader, this displays a concerted effort to enhance the nation’s digital and technological framework while maintaining a keen awareness of its impact, assuring a balanced, responsible, and sustainable evolution into the future.
“Allocations outlined within the 2024 Budget not only strengthen the digital fabric of the nation but also fortify a foundation upon which organisations like IBM Malaysia can collaborate and innovate alongside government and other stakeholders,” the minister said in a press release.
Watsonx, a comprehensive platform for scaling and operationalizing AI, was recently released by IBM Malaysia, resulting in positive business outcomes.
The company also acknowledges the emphasis on sustainability in the 2024 Budget, which includes measures aligned with National Transmission Energy Roadmap (NETR) targets such as funding to facilitate energy transition, enhancements to the Corporate Green Power Programme, and incentives for companies that invest in measurement, reporting, and verification (MRV) related to carbon project development.
Conclusion:
The 2024 Budget holds promise for a tech-forward Malaysia, and IBM Malaysia applauds the government’s commitment to fostering innovation, digital transformation, and sustainability. These initiatives align with the fast-evolving tech landscape and underscore Malaysia’s determination to remain competitive in the global technology arena. As we look ahead to a brighter, more tech-savvy future, IBM Malaysia stands ready to play its part in realizing this vision and driving the nation’s digital progress.
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