Malaysia Hosts Inaugural Islamic Digital Economy Conference to Drive Collaborations and Sector Growth

The inaugural Islamic Digital Economy (IDE) Industry Conference 2023, hosted by Malaysia’s Ministry of Communications and Digital in collaboration with MDEC, underscores collaborative efforts to bolster the Islamic digital economy sector. This event aligns with the Malaysia MADANI initiative and showcases the prominence of IDE within the Malaysia Digital (MD) framework, as the nation maintains its leadership in the Global Islamic Economy Indicator.

22 August 2023 – Marking a significant milestone, the Ministry of Communications and Digital, in partnership with Malaysia Digital Economy Corporation (MDEC), orchestrated the pioneering Islamic Digital Economy (IDE) Industry Conference 2023. This groundbreaking event convened major players within the Islamic digital economy sector, emphasizing collaboration and partnership to drive sectoral growth and development.

A pivotal component of Malaysia’s resource distribution-focused vision, the Malaysia MADANI initiative, the IDE sector stands as a beacon for equitable wealth allocation. Further solidifying its significance, IDE ranks among the nine prioritized sectors integral to the national strategic Malaysia Digital (MD) initiative. This initiative supports MDEC’s drive to establish an effective framework, the Malaysia Digital Catalytic Programmes (PEMANGKIN).

Malaysia’s continuous leadership in the Global Islamic Economy Indicator (GIEI) for an impressive nine consecutive years finds its roots in a vibrant Halal ecosystem encompassing domains like food, pharmaceuticals, cosmetics, tourism, media, and recreation. Projections suggest a global value of US$7.7 trillion for this sector by 2025.

Facilitating industry engagement and innovation, MD Tasree` emerges as a catalyst for the promotion of groundbreaking solutions and the commercialization of technological advancements, ultimately fortifying the MD PEMANGKIN initiative.

During the event, a significant Memorandum of Understanding (MoU) was inked between MDEC and the Halal Development Corporation (HDC), reflecting a commitment to bolster Halal digital technologies, enhance Halal Assurance Systems, and escalate digital adoption levels among SMEs.

As Malaysia Digital (MD) status companies join hands with MDEC and ecosystem partners, the concerted efforts promise to amplify these endeavors, heralding a new era of Islamic digital economy growth.

Author: Terry KS

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