As Malaysia is pushing towards a digital economy as part of the National Transformation 2050 (TN50) initiative, Siemens Malaysia aspires to become the country’s partner of choice and key enabler as it transitions into the journey of digitalisation. This was revealed at an event held in the heart of KL titled “Shaping Digitalisation - Malaysia and Siemens: Our Journey Together”, featuring panel discussions, track sessions as well as a marketplace of exhibitors that included a virtual reality showcase.
According to the event’s guest of honour, Deputy Minister of International Trade and Industry, YB Datuk Seri Chua Tee Yong, TN50 was introduced as an effort from the Malaysian government to look way beyond the nation’s five-year plan in order to adapt to the megatrends impacting the global economy. “We cannot stay sheltered or ignorant of all these trends. So the TN50 is part and parcel of the way to look into how we want to address these megatrends,” said Chua. He also stressed that digitalisation is no longer a buzzword or a future possibility, but a reality that is now embedded in every aspect of our lives, from the way we do things to the way we work, play, travel, and make purchases.
At the moment, the digital industry’s contribution to the national GDP is around 17.8%. The initial target was for it to be 18.2% by the year 2020. But with the recent initiatives, the Malaysian government is now looking at a higher figure due to the various potentials and opportunities brought forth by digitalisation. However, Chua said that while digital readiness and awareness is increasing in Malaysia, many companies are still a bit reluctant to invest in digitalisation and there is resistance in terms of initial take-up, especially from SMEs which make up the majority of the businesses in the country. He added, “While it’s not a necessity now, it could be a problem if it’s not addressed in the future.”
For that reason, the government intends to have a blueprint to tailor its five-year plan and budget to encourage more companies to embrace digitalisation, and welcomes proposals, suggestions and support from industry players like Siemens. Siemens Malaysia have been present in Malaysia for almost 110 years and have invested about EUR9.2 billion in Malaysia with various projects and technological solutions over the years.
Also present was Cedrik Neike, Member of the Managing Board of Siemens AG, who mentioned that Siemens is ambitiously looking to become a global leader in industrial technology and a powerhouse in digitalisation. “The biggest part of digitalisation is the idea of building the eco-system whereby the big companies would help bring the impetus and SMEs would take it onboard and actually scaling it into bigger ways.” Cedrik added, “With strengths in deep domain know-how in a broad range of markets and industries, powerful eco-system, strong install base and connected fleet with our comprehensive portfolio in Mindsphere are what separate Siemens from our market competitors.”
The panel sessions during the day-long event touched on topics such as the uptake and landscape of digitalisation in Malaysia, the challenges and benefits of digitalisation, funding opportunities available, the decision making to acquiring new technologies and maintaining the talent creation pipeline. Guest speakers and panellists included local and international industry experts from across different sectors, while track sessions featured internal Siemens representatives together with their partners and customers. The marketplace drew a constant stream of visitors who were enthralled by the digital offerings.