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KUALA LUMPUR: 5G rollout is expected to create 39,000 jobs, shifting the workforce landscape towards higher-value skills, said Bursa Malaysia Bhd President Abdul Wahid Omar.
He said that the economic impact of 5G on the Malaysian economy was expected to be substantial and its implementation to act as a catalyst for the country’s productivity and growth.
Furthermore, he said, a recent study by the Malaysian Economic Research Institute revealed that 5G had the potential to contribute an additional RM12.7 billion to the nation’s gross domestic product over five years between 2021 and 2025.
“Industry 4.0 (IR 4.0) and 5G deployments are not just on the near horizon. They are here offering opportunities with the promise of speed and responsiveness that will undoubtedly usher in new products, new services and revolutionary ways of doing things, ”said Wahid in his welcome address at Invest Malaysia 2020 – Virtual Series 3 here today.
He said that linking millions of digital devices and creating new services around those devices would transform the way people live and how businesses, governments and even exchanges operate.
“We need to provide assurance that our efforts, as corporations, regulators and financiers, are working together to ensure that Malaysia seizes the opportunities that this new wave of 5G and IR 4.0 technology will bring,” he said.
In the world of fast-moving telecommunications technology and industrial automation, he said, looking holistically at a company and determining whether the organization had the right human capital to implement advanced technology, combined with the right governance practices, it could be argued That is just as important as your financial base.
“Malaysia’s publicly listed companies must be at the forefront in using technological innovations to ensure that our nation remains vibrant and our capital market remains Asean’s leading market,” he said.
