SUBANG JAYA: The digital economy is projected to contribute 25.5% to the Gross Domestic Product (GDP) by the end of next year, up from the current 23%, Digital Minister Gobind Singh Deo said.

Gobind expressed optimism in surpassing this target, attributing it to the government’s comprehensive infrastructure preparations, including expanding internet access to facilitate broader online participation.

“It will depend on how fast we adopt technology and how much we can do to improve our digital economy. I believe it’s an achievable goal,” he told newsmen after launching the MYDINPay e-wallet at Mydin hypermarket here today.

Earlier, in his speech, Gobind said the fast-growing digital economy has enormous potential to elevate Malaysia’s standing in the global economy and drive national revenue.

He urged other industry players to follow MYDIN’s lead in adapting to and integrating with current economic trends, thereby contributing to the advancement of the country’s digital economy.

Meanwhile, MYDIN managing director Datuk Wira Dr Ameer Ali Mydin said today’s initiative underscores MYDIN’s readiness to embrace the digital era and reinforces the company’s commitment to the rapidly evolving fintech landscape.

“With over six decades in the industry, we are committed to ensuring our loyal customers enjoy a seamless shopping experience through innovative business solutions.

“This integration of advanced fintech solutions aims to set a new standard for retail convenience and digital engagement,” he said.

To mark the launch, MYDINPay is offering a RM5 voucher for the first 1,000 early app users, and a 5% cashback for the initial 3,000 customers who spend RM150 or more using the app at any MYDIN branch.