KUALA LUMPUR: 5G technology plays a crucial role in developing the country’s digital economy by fostering entrepreneurship and expanding small and medium-sized enterprises (SMEs) in Malaysia, says Communications Minister Fahmi Fadzil.

He said the contribution of 5G to the national economy was also expected to boost the Gross Domestic Product (GDP) by creating new services and industries, developing new business models, and increasing productivity and efficiency across various touchpoints.

“The development of 5G aligns with the government’s goal of achieving inclusive growth and ensuring that digitalisation benefits all segments of society,” he said.

He made these remarks in his speech at a ceremony for the exchange of a memorandum of understanding (MoU) between the Malaysian Communications and Multimedia Commission (MCMC) and the Malaysian Investment Development Authority (Mida) on Thursday (June 27).

Regarding the MOU, Fahmi said it aims to enable vertical sectors and SMEs to leverage the use of 5G technology.

He said that through the MOU, MCMC would provide technical support and training in preparation for the integration of 5G, while emphasising the importance of harnessing 5G technological advancements for the industries concerned.

Mida will identify potential companies that can utilise 5G technology to advance their businesses.

“This approach will ensure faster and more efficient 5G adoption and meet the needs of various sectors. Through this collective effort, the government will unlock the full potential of 5G, drive innovation, transform industries, and shape a more connected Malaysia.

“I hope that the signing of this MoU will open a new chapter for the vertical sectors and SMEs in the country, making them more competitive and enhancing productivity in managing their businesses,” he said. — Bernama