MITI: Digital Investment Office initiative facilitated RM13b investments to date

MITI: Digital Investment Office initiative facilitated RM13b investments to date

27 Sep 2021

The Digital Investment Office (DIO), which was established by the National Council of Digital Economy and Fourth Industrial Revolution (MED4IR), has facilitated RM13.1 billion of digital investments in Malaysia since its inception in April this year, said International Trade and Industry Minister Datuk Seri Mohamad Azmin Ali.

During the minister’s question time in Parliament on Monday, he said DIO has facilitated two digital projects relating to data centres valued at a total of RM13.1 billion, as well as RM57.3 billion in digital projects which are currently in the pipeline.

“The DIO is a collaboration between MIDA (Malaysia Investment Development Authority) and MDEC (Malaysia Digital Economy Corp) to streamline the efforts in attracting foreign investment in the strategic digital infrastructure segment such as data centres, submarine cables and dark fibre.

“The DIO is also an important structure in realising the National Investment Aspirations with regard to digitalisation. The DIO aims to attract digital investments of RM70 billion by 2025,” he said in response to questions from the members of Parliament (MPs) of Dungun, Kinabatangan and Jerai.

Azmin, who is also Senior Minister, said Malaysia recorded strong performance in terms of foreign direct investment (FDI) for the first half of the year, garnering RM107.5 billion in investments across the manufacturing, services and primary industries — a 69.8% year-on-year jump compared with RM63.3 billion in the corresponding period in 2020.

“The government is committed to strengthen efforts to continue to attract foreign investment to ensure Malaysia remains competitive as a choice destination for investments, especially for high quality investments,” he added.

Source: The Edge Markets