KUALA LUMPUR: The Ministry of Communications and Multimedia (K-KOMM) and the Malaysia Digital Economy Corporation (MDEC) will set up and jointly chair the Sharing Economy Committee (SEC).

K-KOMM said the SEC is being set up to advise the government on the sharing economy, apart from protecting the interest of gig workers and users of gig platforms.

"Hence, the SEC will lead the review of the framework and the national roadmap plan for the sharing economy by coordinating and streamlining sharing economy initiatives among the ministry and relevant agencies," it said.

The setting up of the SEC as the central coordinating committee was announced after a meeting of the Digital Economy and National Fourth Industrial Revolution Council (MED4IRN) chaired by Prime Minister Datuk Seri Ismail Sabri Yaakob.

Minister of Communications and Multimedia Tan Sri Annuar Musa said his ministry recognises the sharing economy as a new economic model that has the potential to provide jobs and incomes to the people.

"Among the targets proposed to the SEC include a cumulative market income of RM2.7 billion, expanding local platforms to 206, and accrediting 50 domestic platforms based on international standards.

"Other targets include training and verifying 250,000 gig workers in main sectors such as services, logistics, and retail apart from developing 100,000 independent digital workers to grab high value gig jobs," he said.

Up to the end of last year, the minister revealed that K-KOMM dan MDEC had confirmed the existence of 137 sharing economy platforms operating in Malaysia, from only five in 2015.

Meanwhile MDEC chief executive officer Mahadhir Aziz said the SEC will be driven by four pillars, namely policy and regulation; confidence in the platforms; incentives as well as standards, including data and metrics.

-- BERNAMA