Digital Minister Gobind Singh Deo has emphasized the potential of Malaysia's digital content industry to significantly enhance the country's economic growth and creativity. With approximately 10,000 professionals employed in this sector and over 300 studios operating nationwide, the industry is poised for expansion. Major investments have been attracted from renowned studios such as Electronic Arts/Codemasters and Bandai Namco, indicating a growing confidence in Malaysia's digital landscape. To further promote innovation, initiatives like the Malaysian Digital Content Festival (MYDCF) and the MyDigitalMaker International Carnival have been launched, showcasing the country's commitment to fostering creativity in the digital realm [e1998036].
The digital economy is projected to contribute 25.5% to Malaysia's GDP by 2025, underscoring its importance in the national economic strategy. The global creative content market is expected to reach a staggering US$687.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 9.97%. Within this context, Malaysia's video game industry is projected to generate US$649 million in revenue, reflecting the country's growing influence in the gaming sector. Currently, over 22.5 million Malaysians are active gamers, with 9.7 million being paying users, highlighting a robust market for digital content [e1998036].
In addition to the digital content industry, Indonesia's Ministry of Trade is also focusing on enhancing digital capabilities among its youth to seize export opportunities. Deputy Minister of Trade Jerry Sambuaga has pointed out that developing digital skills is crucial for Indonesia's economic growth, particularly given its large young population. The Ministry is implementing training programs, such as the Export Online Business Training, to improve human resources in the export sector. Indonesia's digital trade is expected to rise from Rp453.75 trillion in 2023 to Rp503 trillion by 2025, reflecting a growing emphasis on digitalization in trade [ceb15bc7].
While both Malaysia and Indonesia are making strides in their respective digital economies, Malaysia's furniture industry faces challenges, with exports declining from RM13.86 billion in 2022 to RM9.1 billion in the previous year due to a weakening housing market in the United States. However, Malaysia's overall trade performance showed positive growth in May 2024, driven by the manufacturing and agriculture sectors, with exports rising by 7.3% year-on-year [f7164f06].
As both nations navigate the evolving digital landscape, the focus on digital capabilities and content creation will be pivotal in driving economic growth and enhancing competitiveness in the global market.