Prosperity Vision Malaysia’s Shared Realization of To ... · Malaysia’s Shared Prosperity Vision 2030 includes 15 Key Economic Growth Activities ... geopolitically balanced and

Malaysia’s Prime Minister Dr. Tun Mahathir Mohammad convened a briefing session withthe Malaysian Technology Development Corporation ("MTDC") and the Global Coalitionfor Efficient Logistics ("GCEL") to discuss how the Digital Economy Platform (DEP) canassist to achieve Malaysia’s Shared Prosperity Vision 2030 objectives.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20200207005476/en/

Left to Right: MTDC CEO Dato’ Norhalim Yunus, MTDC Chairman Tan Sri Abdul RahmanMamat, Malaysia’s Prime Minister Dr. Tun Mahathir Mohammad, GCEL Chairman CaptainSamuel Salloum and GCEL Deputy Secretary General Mr. Gregory Bird. (Photo: BusinessWire)

MTDC is a wholly-owned subsidiary of Khazanah Nasional, Malaysia’s sovereign wealthfund, and has been the key player in commercialization and management of governmentfunding since the 7th Malaysia Plan. MTDC was represented by Chairman Tan Sri AbdulRahman Mamat, Secretary General of Malaysia’s Ministry of International Trade andIndustry (2006-2010) and Chief Executive Officer Dato’ Norhalim Yunus. GCEL wasrepresented by Chairman Captain Samuel Salloum and Deputy Secretary GeneralGregory Bird.

Malaysia’s Shared Prosperity Vision 2030 includes 15 Key Economic Growth Activities(KEGA) towards increasing the incomes of the economically poor within the Malaysiansociety.

GCEL has developed the Malaysia Digitization Program centered upon a DEP thatsupports 7 of 15 KEGAs mandated to translate Malaysia’s vision into measurabledelivery. The DEP delivers thousands of free Apps across its e-commerce, e-finance, e-insurance and e-logistics dimensions that will digitize the global B2B value chains.

Captain Salloum exclaimed, "the DEP will be deployed by the world’s top technologycompanies, as well as national e-commerce, finance and insurance firms that generateUSD 1.5 trillion in revenues with 4.7 million manpower. These organizations will digitizethe USD 150 trillion B2B marketplace, unleashing USD 20.5 trillion in new digital servicesby 2030."

Tan Sri Abdul Rahman noted, "GCEL has conducted 15 years of R&D on the DigitalEconomy and executed strategic agreements with pan regional organizationsrepresenting 150 member countries, 26 IGOs/NGOs and the world’s top technologyfirms." He added, "this initiative is unprecedented since its governance structure isgeopolitically balanced and non-monopolistic to safeguard each nation’s sovereignty andprivacy of its trade and trade data."

GCEL previously conducted the Malaysia Shipment Efficiency Assessment (SEA) with theMalaysia Digital Economy Corporation (MDEC) to diagnose trade efficiency and identifythe digital tools required to increase trade and create jobs. Malaysia’s SEA was followedby the G20 Nations Case Study of trade efficiency conducted by 90 G20 ministries,IGOs/NGOs and private sector experts representing nearly 80% of the global GDP. TheCase Study collected 1.2 million data points through face to face interviews across 19industry clusters covering all economic zones.

The Case Study revealed 90.4% of Malaysia’s trade partners do not have an integratedsystem and 94.5% have commonly defined and want the DEP to do a better job at theground level.

GCEL has also executed national agreements with the Organization of IslamicCooperation, League of Arab States, Organization of American States and the AfricanUnion to promote adoption of the DEP in their regions.

During the session GCEL introduced the Asia Benchmark Trade Lane Program and the 6steps to digitize businesses creating a conducive ecosystem that increases efficiency tofacilitate economic growth. The Program is projected to reduce Malaysia’s trade costs byUSD 55 billion, increase trade by USD 122 billion and generate nearly 9.5 millionmanufacturing, agriculture and service industry jobs by 2030.

H.E. Tun Mahathir concluded, "This initiative can speed up and contribute to the rapidgrowth of the Malaysian economy. Having access to 'Big Data' by all will assist trade

GCEL’s DigitalEconomy PlatformTo AssistRealization ofMalaysia’s SharedProsperity Vision2030 Objectives

Business Wire February 7, 2020

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participants to know more about each other to increase trade."

View source version on businesswire.com:https://www.businesswire.com/news/home/20200207005476/en/

Contacts

PRESS INQUIRIES: GCEL Mr. Gregory BirdDeputy Secretary [email protected] www.gcel.net

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