PUTRAJAYA: Prime Minister Datuk Seri Najib Razak has declared 2017 the 'year of the Internet economy' for Malaysia.

He outlined the five key strategic catalysts as being physical microcosm, risk capital funding, connectivity, talent, and regulatory frameworks.

The prime minister was speaking at the 28th MSC Malaysia Implementation Council Meeting (ICM) here today.

Najib said that under the stewardship of the Malaysian Digital Economy Corporation (MDEC), the digital economy's contribution to the nation's GDP has increased over the years.

"As a result of MDEC's relentless commitment, Malaysia's digital economy contribution to the GDP has already reached 17.8 per cent in 2015.

"We have almost hit the 18.2 per cent target which we set for 2020," Najib said.