• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
Page
  1. 1
    1
  2. 2
    2
  3. 3
    3
  4. 4
    4
  5. 5
    5
  6. 6
    6
  7. 7
    7
  8. 8
    8
  9. 9
    9
  10. 10
    10
  11. 11
    11
  12. 12
    12

The Multimedia Super Corridor (MSC)

Extracts from this document...

Introduction

ABSTRACT Initiated by the Prime Minister Datuk Seri Dr Mahathir Mohamad, the Multimedia Super Corridor (MSC) is the catalyst that will propel Malaysia to take its place among the developed nations of the world by 2020. Since its launch in 1996, the MSC has made significant progress and impact to the country. The MSC aims to leverage on information and communication technology (ICT) and create an environment that encourages creativity and innovation to help boost both local and international companies to reach new technology frontiers that will change the way we live, work and play for the better. To kick-start the MSC, the government has initiated several initiatives. Among them are setting up the right infrastructure and infostructure, introducing incentives, creating the Bill of Guarantee, cyberlaws, Multimedia Development Corporation (MDC) as a one-stop centre, and implementing the Flagships Applications. EGovernment, Multipurpose Card, Telehealth, Smart School, World Wide Manufacturing, and Borderless Marketing were the early Flagship Applications being introduced to spearhead the growth of the MSC. This paper describes the strategy of the MSC, the principal factors that differentiate the MSC from any other initiatives, and challenges and issues in developing the MSC. 1. THE STRATEGY MSC or Multimedia Super Corridor was first conceptualized by the Prime Minister of Malaysia in 1996. With a strategy to catalyze the transformation of Malaysia economy and society into the Information Age, the MSC is conceived as the next engine of growth for Malaysian economy. ...read more.

Middle

The World Wide Manufacturing and Borderless Marketing Flagships have recently been combined under E-Business Environment Flagship to promote the take-up of EBusiness activities in the country. Research & Development Cluster helps ensure that the MSC is an attractive location for companies to develop next-generation multimedia technologies and innovations. In view of the needs to nurture the development of local technopreneur, the Government has launched a Technopreneur Development Flagship. Among the initial focus areas for this flagship include the development of technopreneur portal; talent development programs; granting MSC status for incubators; funding programs; and market access and venture development programs. 5. MDC AS A ONE-STOP-CENTRE FOR INVESTMENT To ensure the successful implementation of MSC, Multimedia Development Corporation (MDC) was established as a one-stop centre to market the MSC globally,facilitate investment, formulation of new Cyberlaws and policies, and sets standards for the MSC's information infrastructure and urban developments. As of 9 February 2006, a total of 1439 companies have been granted the MSC-Status of which 351 are international world-class companies such as NTT, Fujitsu, IBM, Sun Microsystems, Microsoft, Oracle, Ericsson, Nokia, and Siemens. The MSC aims to attract more international world-class companies by end of 2006. The MSC-Status companies are involved in various sectors of the Information Communication Technology (ICT) industry such as web development, e-commerce, application service providers (ASP), content development, telecommunications, education and training, security, system integration, networking and software development. ...read more.

Conclusion

The Government's role is to provide a conducive platform for these players to spawn new and breakthrough ideas and business ventures. Below is a list of attractive plans and incentives available to the public and companies. 1. Government initiated grants available to corporations a. DAGS (a RM 100 million total grant size) b. MGS (a RM 200 million total grant size) 2. Government initiated venture capital & loan a. MSC VC (a RM 120 million total fund size) b. MAVCAP (a RM 1.6 billion total fund size) 3. Technopreneur Development - 8th MSC Flagship Initiative 4. Last year, MDC customised its funds for specific industries based on their unique requirements & characteristics 9. COMPELLING FACTORS OF MSC The success of MSC depends on various factors. The right mix of factors will enhance the probability of success. The following factors aim to create a conducive business environment for companies to thrive in: 1. Comprehensive package for ICT players 2. Strong socio economic fundamentals 3. Strong support for Government and business leaders 4. Strong support for growth of Tehnopreneurs 5. Human resource development 6. Competitive cost of doing business 7. Gateway to Asia Pacific market 8. English is widely spoken 10. CONCLUSION The MSC project has shown that several factors have to be present to ensure success: Visionary and bold leadership, hard work, compelling incentives, world-class infrastructure, and multi-stakeholder participation. Success is certainly possible even for a small economy that was impacted by the regional financial crisis. 11. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Global Interdependence & Economic Transition section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Global Interdependence & Economic Transition essays

  1. International Ecotourism Management: Using Australia and Africa as Case Studies.

    The five areas studied experienced tourism expenditures in 1991/92 of $1,372,000,000. The total management budgets were $48,700,000, and the user fee income to the management agencies was $4,160,000. Therefor, the management budgets were only 3.5% of the tourist expenditure that occurred in the World Heritage Areas.

  2. tourism impact

    Most of these visitors were wealthy and they wanted comfortable places with fine hotels and other services. After the Second World War (1939- 1945) Annual Holidays increased and a rising income caused a new trend. More and more people living in cool, rainy countries or cities in England chose to spend their holidays somewhere warm with beaches and sun.

  1. What role can Finance play in developing the Nigerian Business Environment? A Case Study ...

    It made its first investment of $2million in Brazil (1957) and by 1984, had capital in excess of $1billion. In Africa, IFC launched its African Enterprise Fund to finance Small and Medium Enterprises in 1988. By 1996, syndications had reached $4.8billion and environmental and social policies were being strengthened.

  2. TOURISM'S THREE MAIN IMPACT AREAS

    emissions related to transportation energy use. And it can contribute to severe local air pollution. Some of these impacts are quite specific to tourist activities. For example, especially in very hot or cold countries, tour buses often leave their motors running for hours while the tourists go out for an

  1. Tourism and the Environment

    Co-ordination and Consultation with other government Ministries and departments in order to facilitate tourism development by providing the necessary enabling environment; (vi) The Ministry has also the responsibility of overseeing the operations of such State Corporations as:- * The Kenya Tourism Development Corporation, which lends to and advises investors in the tourism industry.

  2. The Growth of Dubai

    Modern Dubai is the product of 30 years of rapid development. Map Showing the Original Settlement The Growth of Dubai By the turn of the 20th century Dubai was a sufficiently prosperous port to attract settlers from Iran, India and Persia.

  1. Development of the leisure and recreation industry

    Improved Mobility Since the 1970's mobility has increased, this is as a result of the improved transport systems and mass production of private vehicles. The transport systems can range from Trains through to aeroplanes. All modes of transport have become slightly more affordable in relation to earnings and new technology allows them to more comfortable and appealing.

  2. The social costs and benefits of business activity- Paddington Basin Regeneration Project.

    This short-term loss can be argued with the fact that once the project is over the amount of tourist attracted to this place will increase steeply. The local council in charge of overseeing the entire project and its fulfilment of the objectives stated by the developers is Westminster Council.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work