Govt mulls investor-friendly policies that support AI development

19 Apr 2024

The government is looking at the need to formulate policies and amend any relevant legislation so that Malaysia is always investor-friendly and can support the development of artificial intelligence (AI) infrastructure, said Prime Minister Datuk Seri Anwar Ibrahim.

However, he said data security should be given priority.

“Malaysia needs to quickly adapt the current economic landscape to continue to grow so that it is always competitive in the region by attracting investment from companies in the technology, AI and blockchain sectors,” he said in a post on Facebook today.

He noted that Malaysia has the National Artificial Intelligence Roadmap 2021-2025 and National Blockchain Technology Roadmap 2021-2025 that have the potential to accelerate the adaptation of AI in the public and private sectors.

“The Madani government is committed to driving the development of the country’s economy, especially in high impact and innovation sectors and providing a conducive business environment,” he said.

The prime minister made these remarks following a discussion held virtually this morning via video conference with Tools for Humanity (TFH) company co-founders Sam Altman and Alex Blania, as well as Ole Ruch from Nordstar.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz and Digital Minister Gobind Singh Deo also participated in the meeting.

The discussion of around 30 minutes touched on several matters related to the rapid development of technology.

“TFH also informed the development of the Worldcoin project, the latest initiative related to identity and the global and inclusive financial network by prioritising the characteristics of confidentiality and providing protection to private information,” Anwar said.

Source: Bernama