Budget 2023: Call for 5G, cyber security incentives and focus on digital banking

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Monash University Malaysia School of Business senior lecturer Dr Andrei Kwok said Malaysia will be able to accelerate its digital capabilities and incentivise 5G to enable the nation to catch up on the adoption of emerging technologies such as Internet of Things and cloud computing.

He pointed out that the incentives can also attract foreign investment while supporting local industries’ digitalisation and developing innovation capabilities to gain a competitive advantage.

“Furthermore, it can increase social inclusion by providing the population access to technology nationwide. On the other hand, the development of smart cities will significantly depend on faster and seamless connectivity,“ he said.