Malaysia navigating global challenges in digital transformation
KUALA LUMPUR: Malaysia is navigating a complex global environment shaped by geopolitical tensions, ongoing trade wars and the impact of tariffs across industries.
Despite these challenges, the country is presented with significant opportunities in artificial intelligence, digital transformation and green technologies, requiring a thoughtful balance between risk and potential.
Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai stated that Malaysia ranks 16th in global assembly production and 13th in assembly test capacity.
'But alongside these challenges, we also see significant opportunities in AI, digital transformation and green technologies, requiring us to balance both risk and potential thoughtfully,' he said during a panel discussion at the Malaysia Economic Forum 2025 today.
In contrast, the global semiconductor market, valued at approximately US$600 billion (RM2.5 trillion) in 2023, is projected to grow rapidly and reach US$1 trillion by 2030, primarily driven by advances in artificial intelligence (AI) and digital transformation.
Echoing this sentiment, eCouldvalley Technology Malaysia country director Sandy Woo emphasised that technology, especially digital and ICT, should be seen as a pervasive enabler that shapes lives, conducts business and protects national interests.
'Digitalisation is not just a trend – it is transforming public sector services and driving economic reform.
'We must continue to innovate, embracing tools like e-invoicing and adapting to new taxation landscapes, to strengthen business confidence and position Malaysia as a leader within Asean,' said Woo, who is also the National Tech Association of Malaysia councillor.
Both agree that innovation – from digital public services to new taxation tools, such as e-invoicing – is vital to strengthening business confidence and positioning Malaysia as a leader within Asean.
Wong said the semiconductor, electronics, and electrical industry in Malaysia, while representing about 1% of specific industry segments, contributes approximately 6% to the country's gross domestic product and supports employment for around 630,000 people, making it a significant sector in the national economy.
Kenanga Investment Bank Bhd head of economic research Wan Suhaimie Wan Mohd Saidie said considering the current state of the economic system, it is clear that inflation is not just a temporary phenomenon.
'But rather a structural problem, resulting from a monetary system that is fundamentally engineered to produce inflation – where central banks respond to insufficient money in circulation by printing more, thereby perpetuating this inflationary environment for decades,' he shared.
Wan Suhaimie added that if the conflict escalates in the Middle East and oil prices rise above US$80 per barrel – or even reach US$100 per barrel – this would compel governments to incur additional costs.
FCA Capital Sdn Bhd chairman Dr Mazlan Ahmad said looking at the current state of globalisation, Malaysia must focus on leveraging and capitalising on its strengths, areas where the country already excel and have the potential to do even better.
'Although we face numerous crises globally, such as recent events in Iran and Ukraine, I choose to view these challenges as opportunities. Malaysia has the potential to become a haven for investment, business dealings, and education, as well as a destination for training and more.
'By fully exploring and utilising these abundant resources, I am confident that Malaysians will be able to secure a prosperous future – one where financial hardship and reliance on bank loans are minimised,' he said.
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