Call for 5G, Cybersecurity Incentives and Digital Banking

KUALA LUMPUR: As Malaysia finally moves forward with the rollout of the fifth generation (5G) network, now is the time for the 2023 budget, which will be tabled this Friday, to focus on 5G-related technology and the digital incentives.

National Tech Association of Malaysia (PIKOM) President Dr. Sean Seah said 5G will ultimately improve many operations and businesses. Incentives are therefore important for industry players to embark on and adopt 5G.

“The pandemic and post-pandemic has accelerated the adoption of digital and technology, this trend will continue throughout 2023. The technology sector will continue to be the catalyst for retail, e-commerce , tourism, smart manufacturing, smart agriculture, healthcare and banking as they continue to be ready for the future,” he told Bernama.

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Sean also suggested the allocation of a special fund to CyberSecurity Malaysia in the next budget to include cybersecurity awareness programs and implementation of best practices in small and medium enterprises (SMEs) and medium enterprises in this country.

He said this includes certification and subscription to cybersecurity alerts and mitigation programs in addition to encouraging investments in security software to ensure the safety and security of technology systems, banking systems and personal data is well protected.

Digital Nasional Bhd (DNB), the government-owned special purpose vehicle (SPV) for 5G deployment, has pledged to accelerate the timeline for rolling out 5G coverage to 80% of the population by 2024.

Sean’s view was also echoed by Dr Andrei Kwok, Senior Lecturer at Monash University Malaysia School of Business, who said Malaysia would be in a position to accelerate its digital capabilities and incentivize 5G to allow the country to catch up on the adoption of emerging technologies such as the Internet of Things. and cloud computing.

He pointed out that incentives can also attract foreign investment while supporting the digitalization of local industries and developing innovation capabilities to gain competitive advantage.

“Furthermore, it can increase social inclusion by providing people with access to technology across the country. On the other hand, the development of smart cities will significantly depend on faster and seamless connectivity,” he said.

Meanwhile, Universiti Teknologi Malaysia (UTM) Adjunct Professor Dr. Tharek Abd Rahman said that next year the mobile network operator will start offering 5G services and current networks on 4G will improve further in terms of quality of experience and coverage.

The telecommunications expert noted that the goal of the second phase of Jalinan Digital Negara (JENDELA) is to have 100% 4G coverage nationwide in populated areas from 2023.

“The introduction of 5G can bring productivity and economic growth. Some of the benefits of 5G are to support the introduction of new services in digital health, manufacturing, automotive, agriculture and beyond smartphones,” he said. .

According to the Malaysian Communications and Multimedia Commission (MCMC), a total of 500 5G sites have been completed under Phase 1A as of December 2021, covering areas in Cyberjaya, Putrajaya and Kuala Lumpur, while Phase 1B would see another deployment of 3,518 5G sites. by the end of the year.

Commenting on the phenomenon of digital banking, Head of Faculty of Commerce, Monash University Malaysia, Dr. Nafis Alam said that with the implementation of 5G in card and digital banking the Next year, the push for automation and digitalization in the SME sector will benefit the technology sector.

He added that digital engagement and blockchain technology will likely boost efforts to rebound from the pandemic as businesses and government further increase investment in the tech sector.

“With some challenges in chip and technology, parts production due to supply chain disruption is also an opportunity for emerging economies to start production centers. This will further stimulate demand and supply in the technology sector. It will be an exceptional year for the technology sector in 2023,” he said.-Bernama

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Call for 5G, Cybersecurity Incentives and Digital Banking

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