Malaysia Poised To Enhance Statistics Infrastructure To Broaden Access To Big Data

KUALA LUMPUR, June 13 (Bernama) -- Malaysia has the opportunity to build on its existing statistics infrastructure to broaden and deepen access to open data and develop systems for data management that are fit to join the ranks of high-income economies, said the World Bank. Country Director for Southeast Asia, Dr Ulrich Zachau said although Malaysia is currently not big in this new industry, the World Bank believed there are avenues through which the country could take big data sharing more widely. "There’s an example of a very well known local company that provides transport services using big data in a very sophisticated way, which are made available to the people, and it is competing with an American company," he told reporters after launching the latest Malaysia Economic Monitor (MEM) here Tuesday. Zachau said the transport services company was working with the government on good policy-making on the traffic pattern. This was among the avenues which Malaysia could take the big data sharing more widely, he said, adding the importance of good, reliable data should be made available to both the public and private sector, as well as the community at large. "Good and reliable data is crucial for economic development," he added. He also said Malaysia's economy had grown faster than expected in the first quarter due to the strengthening global economy, coupled with Malaysia's good economic policy. The World Bank, he said, was projecting almost five per cent growth for the full year for Malaysia. Today, the World Bank launched its MEM report, which identifies the fragmentation of data and institutional responsibilities for data as a key challenge. The MEM series provides an analytical perspective on the policy challenges facing Malaysia as it grows into a high-income economy. The series also represent an effort to reach out to a broad audience, including policymakers, private sector leaders, civil society and academia. -- BERNAMA