• 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. tourism impact

    It often also puts a strain on water resources as mentioned before above. Some other negative effects of tourism in Torquay are trampling, anchoring and the alteration of the ecosystem by the tourist activities. (Cooper et al 1998, p. 150 - 152) (Cooper et al 2005, p. 196 - 200)

  2. Development of the leisure and recreation industry

    Museums provide a huge source of information and culture that if not found in museums may be lost, they provide a 1st hand experience of the past and what the future may hold. The museums provide the following type of information: * Archaeology * Art and Design * Transport *

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

    The departments are: Corporate Governance; Global Information & Communication Technologies; Investment Climate; Oil, Gas, Mining & Chemicals; and Small and Medium Enterprises. 2004 operating income for the IFC group was $982million, with a 23% increase in new commitments. New investments in Sub-Saharan Africa more than doubled in 2004 with a spread of business distributed across all sector.

  2. TOURISM'S THREE MAIN IMPACT AREAS

    In mountain areas, trekking tourists generate a great deal of waste. Tourists on expedition leave behind their garbage, oxygen cylinders and even camping equipment. Such practices degrade the environment with all the detritus typical of the developed world, in remote areas that have few garbage collection or disposal facilities.

  1. Tourism and the Environment

    for the following:- * provision of incentives for tourism investment and management as well as provision of the requisite amenities for tourism development; * development of visitor management systems through zoning and land use policies aimed at securing participation by the local communities; * formulation and implementation of enforcement programmes

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

    The success of this project will mean that the council will be receiving more tax and this can be used to improve the area further and to improve other aspects of society. The developers will be looking to create an environment where businesses can flourish and contribute to the improvement of the economy for Paddington Basin.

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

    Filani (1975) and Western and Henry (1979) proposed the development of national tourism policy, closely linked to national development strategies. Kenya and South Africa have been successful leaders in the development of ecotourism industries based upon a comprehensive structure of national legislation, policy planning and site management.

  2. Successful Property Development.

    The most common form of development funding which involves the institutions if known as 'profit erosion, priority yield'. This method allows the developer to borrow most of his short term finance from the institution and not pay it back until the scheme is completed and let.

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