Malaysia has surpassed RM70bil digital investments target

26 Oct 2023

Malaysia Digital Economy Corporation (MDEC) today said that Malaysia has surpassed its RM70 billion digital investments target under Malaysia Digital Blueprint’s (MyDigital).

Under MyDigital, Malaysia had set a target of bringing in RM70 billion digital investments between 2021 and 2025.

According to MDEC chief executive officer Mahadhir Aziz, Malaysia has in fact attracted more than RM110 billion investments thanks to a dearth of data centre investments in the country, diverted here due to a three year moratorium on data centre set by the Singapore government between 2020 and 2022.

“Malaysia has enjoyed this windfall of data centre net investments and the numbers today I can recap is more than RM110 billion,” he said at a media gathering in conjunction with the Malaysia Digital Expo (MDX) 2023 which has been running since September 25, 2023.

Mahadhir said there is now a proposal to upgrade the target to achieve by 2025, to RM130 billion.

MDX 2023 is part of MDEC’s efforts to position Malaysia as digitalisation hub.

The six-week event, which ends on November 8, 2023, is aimed at demonstrating Malaysia’s readiness to explore and grow to the next level and open doors for businesses in the ASEAN region and beyond.

The MDX 2023 Grand Finale will take place from November 6 to 8, at the Malaysia International Trade and Exhibition Centre, Kuala Lumpur, with Prime Minister Datuk Seri Anwar Ibrahim scheduled to deliver the keynote address at MDX 2023.

Source: NST