KUALA LUMPUR: With the digital economy set to contribute around 20 per cent of the nation’s Gross Domestic Product (GDP) by 2020, Malaysia is poised to be the next big digital hub, replete with new and exciting opportunities for publishers and brands, says VML. VML, a global digital marketing agency, announced in October the opening of its first office in Malaysia, its fifth office in Asia.
VML engineers best-in-class digital experiences for some of the most respected and recognised brands in the world. In an interview with Bernama, VML Malaysia’s newly appointed Head of Digital, Lee Chin Chuan, said the country has also made some progress on the measurement front.
In February this year, Lee noted that the Malaysian Digital Association (MDA) announced its reappointment of comScore as its official audience measurement currency in Malaysia, alongside a commitment to standardise and endorse a standard measurement platform. Most recently, the 2017 Malaysia Budget revealed a strong focus on the digital economy.
The government announced that RM162 million has been allocated to the Malaysia Digital Economy Corporation, and unveiled new plans to develop the world’s first Digital Free Zone to facilitate international e-commerce and invigorate internet-based innovation.
Against this backdrop, VML Malaysia is definitely a strategic move, and marks the start of an important chapter, said Lee.
“We are at a time when Malaysia is leading the region in digital adoption — be it in mobile penetration or time spent on mobile — and embracing investments in digital advertising,” he said.
Citing a recent report providing insights from the top 50 brands in Malaysia, Lee said the estimated average digital ad spend is approximately 20 per cent of media spends.
