Malaysia To Tap Jack Ma's Ideas On Digital Economy - Irwan Siregar

FROM HAFIZAH KAMARUDIN BEIJING, Nov 1 (Bernama) - Malaysia will tap Chinese Internet tycoon Jack Ma's ideas on the development of the digital economy, said Treasury Secretary-General, Dr Irwan Abdullah Serigar. He said the meeting between Prime Minister Najib Tun Razak and Jack Ma, the founder and executive chairman of Alibaba Group, would discuss the matter, among others. "We will discuss about bringing his ideas (to Malaysia), and there is talk of appointing him to the digital council," he told Malaysian journalists after welcoming Prime Minister Datuk Seri Najib Tun Razak here on Monday for an official visit six day to China. Irwan said the digital economy is where Malaysia can learn and cooperate with China and "it is the in thing not only now but for the next 10 to 20 years. The cooperation would benefit Malaysia more, not only in terms of human capital development but also economic progress. Under Budget 2017, some RM162 million was allocated to the Malaysian Digital Economy Corporation (MDEC) for programmes such as e-commerce ecosystem and Model Maker Movement and the introduction of a new category called the Malaysia Location Digital Hub. Malaysia's digital economy currently contributes 16.3 percent to Malaysia's Gross Domestic Product (GDP) and expected to contribute some 20 percent to GDP by 2020. --BERNAMA