Malaysian ICT Companies Need To Make Forays Into Asean ICT Market - MDeC

KUALA LUMPUR, Oct 6 (Bernama) -- Malaysian ICT (information and communications technology) companies need to make forays into the growing ASEAN ICT market which is set to worth US$48 billion by 2019. Malaysia Digital Economy Corporation (MDeC) Vice-President for Infotech Industry Development Norhizam Abdul Kadir said the industry held huge potentials for expansion within the ASEAN market, particularly in Indonesia. "Our (ICT) market is relatively small compared with that of most ASEAN countries and almost reaching its full capacity. "If we didn't have the urge to grow (regionally), we will end up as only 'jaguh kampung' (village champion)," he told reporters after a media briefing on the ASEAN ICT Market Landscape Study by International Data Corporation here, Thursday. Currently, the ASEAN ICT market is worth about US$42 billion. MDeC is a government-owned institution responsible for the management of the Multimedia Super Corridor (MSC Malaysia) in Malaysia as a technology industry and commerce zone. Norhizam said MDeC had been educating local companies and raising their awareness on how small the Malaysian market was despite being slightly more developed than other ASEAN countries. She said Indonesians made up about 40 per cent of the ASEAN population and the country was among the top ten countries globally in terms of gross domestic product growth. "And I foresee they (Indonesia) would climb up the ladder in the next 10 years. If local companies are not able to tap into the market, personally, I don't think they can survive," he said. Commissioned by MDeC, the ASEAN ICT Market Landscape Study by IDC focused on six robust emerging countries in the region -- Cambodia, Indonesia, Myanmar, the Philippines, Thailand and Vietnam. The study aims to provide multimedia super corridor companies with insights and strategies, as well as to connect them with viable foreign partners, thus expediting the process of market entry and operations set-up. Norhizam said the study was part of MDEC's Global Acceleration and Innovation Network (GAIN) initiative to catalyse local companies with potentials to become global tech icons. Under GAIN, he said about 150 ICT companies with desire to penetrate international markets were selected for assistance and education on the right way to go global. "This initiative was built for companies that have their own will to expand outside Malaysia. They were selected through various criteria, including the expansion plan and technology produced," he said. -- BERNAMA